A Quote by Elvira Nabiullina

As a former economy minister, I can't not think about economic growth. The central bank should also think about this but through its own instruments. — © Elvira Nabiullina
As a former economy minister, I can't not think about economic growth. The central bank should also think about this but through its own instruments.
If we speak about fundamental things, regulation of the rate is actually the function of the main regulator, namely the function of the Central Bank. And it should think of how the economy and industry react, but also of its fundamental tasks in order to ensure the stability of the rate.
In a mature economy like India's, which is becoming modern and a financially-oriented economy, an independent central bank, responsible central bank, is really central to success.
I have always thought and I still think that the Central Bank should act independently. Indeed, it does, you can take my word. I do not interfere in the decisions of the Central Bank and I do not give instructions to the Bank management or to its head.
The problem is, if at all, in the different view of the economy, of economic growth. Growth is too low, even for us. That needs to change: More investments, a stronger role by the European Central Bank. Otherwise, there are no tensions between Italy and Germany. But on this point, compromises must be reached and we will reach them.
Central banks have gotten out of the central banking business and into the central planning business, meaning that they are devoted to raising up-if they can-economic growth and employment through the dubious means of suppressing interest rates and printing money. The nice thing about gold is that you can't print it.
When we look at the credit growth, we should look at it in its totality. Let us not only look at the non-food bank credit growth but also look at the growth across all the instruments of financing.
According to the Bank of England the economy is growing too fast so interest rates must rise to counter the supposed inflationary threat. In lay terms, I interpret this to mean that people are working much harder, causing economic growth, and they're in danger of spending their money, which is what the recession-hit shops want them to do. But the Bank and the City seem to think this is wrong, and that if people work harder they should be punished by having their mortgages increased.
I don't think any of us can do much about the rapid growth of new technology. A new technology helps to fuel the economy, and any discussion of slowing its growth has to take account of economic consequences. However, it is possible for us to learn how to control our own uses of technology.
Economic growth must be the central issue because it is only through growth that the devastating threat of national bankruptcy can be averted. Furthermore, it is only by reviving American economic growth that the West's global predominance can be sustained, and peace and freedom kept secure around the world.
The best way that a central bank can support growth on a durable basis is to ensure inflation is low, stable - there is financial stability - and that is the role that the central bank plays.
The principle that a central bank, charged with controlling inflation, should be independent from the government is unassailable. It may also be true that it's easier for the central bank to guard its independence from political pressure when it mainly holds government securities.
A government cannot be expected to allow independence to its central bank unless that bank is also accountable to it and to the wider public. That is, the central bank must be able to be judged on whether or not it has achieved its agreed objective.
This tough-love, winner-take-all narrative dominating policymaking is far too limited a way to think about how a complex, modern, diverse economy like ours expands and thrives. The strongest periods of economic growth in the 20th century were also times when incomes rose across the board.
The Central Bank should take into account other things as well: the stability of the bank system in the country, the increase or decrease of money supply in the economy, its influence on inflation.
I believe that being in a position, as a central bank, to influence economic growth does not mean losing independence.
Most of the policies that support robust economic growth in the long run are outside the province of the central bank.
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