Central Bank of Russia is accused of a huge mistake

Banks Finansy24-04-2009 Central Bank of Russia is accused of a huge mistake the Bank of Russia finally lowered the refinancing rate for the first time since then, as our country engulfed the global crisis. This is good news for those who have to live on credit. However, the rest of the Central Bank told to tighten monetary policy. Some experts believe it is a mistake to CB. Payback can be a regular fall of the ruble - much stronger than if the Central Bank devalued it right now. Happened: The Board of Directors of the Bank of Russia decided to reduce from April 24, the refinancing rate by 0.5 percentage points - to 12.5%. Interest rates on individual transactions, the Bank of Russia, is also reduced by 0.5 percentage points. This long-awaited analysts and experts. Indeed, as already written Bigness.ru, in the current crisis seems logical to demand lower cost of money, stimulating demand and cheaper credit. At least in most economies around the world The crisis has lowered rates. In the U.S., the refinancing rate was actually zeroed in December last year. Even long resisted policies to reduce the European Central Bank in April lowered the rate to 1.25% per annum. Moreover, the ECB President Bank President Jean-Claude Trichet said that this is not a minimum value.