A bill has been submitted to the State Duma to strengthen control over the decisions of the Central Bank. The initiator was a group of deputies from the Fair Russia party, led by faction leader Sergei Mironov. Details are reported by RIA Novosti with reference to the database of the lower house of parliament.
The people's deputies propose that when setting the key rate at a level above seven percent, the regulator's management should receive permission from the parliament.
The document is being submitted against the background of the disappearance from the public field of the Chairman of the Bank of Russia Elvira Nabiullina. She missed the St. Petersburg International Economic Forum and the NAUFOR conference, where she was announced as a participant. The Central Bank of Russia has already explained that the head of the regulator is on sick leave.
As stated in the explanatory note, the key rate affects the cost of lending, housing affordability, the debt burden of citizens and the working conditions of the real sector of the economy. Therefore, deputies want to have the right to influence the parameter that largely determines the socio-economic development of the country.
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