Rubles we can buy approximately the same set of goods and services uk telegram data as before. And this is possible only with price stability, in other words, with consistently low inflation. This is approximately how the law on the Bank of Russia explains the concept of “ruble stability” – it says that the stability of the ruble is achiev by maintaining price stability.
Of course, you can argue that the prices of imported goods, and therefore inflation in general, depend heavily on the exchange rate. But things are not so clear-cut here. Firstly, not all goods in our consumer basket are imported. Secondly, businesses do not always pass on exchange rate fluctuations to prices.
For example, in countries with a long history
of low inflation, citizens and businesses are confident that the central bank, having a powerful tool to influence demand, will ensure price stability in any situation. Therefore, entrepreneurs, even leverage data in sms marketing campaigns for better results with sharp exchange rate fluctuations, are in no hurry to pass this on to prices, and citizens will not rush to buy imported goods in such episodes, further spurring inflation.
Now about the ability of the Central Bank
to influence the exchange rate. Any movement of the exchange rate is the result of a change in the ratio of supply and demand on the foreign exchange market. Without the ability to influence the size of export foreign exchange earnings, the central bank is able to create conditions so that the demand for imports and savings in foreign america email currencies harmoniously adjusts to the supply of currency and does not create further stable pressure on the exchange rate and prices. And our key rate is a very effective tool here.
