It is possible that the twist with the monetary policy turnaround was included on the Stolypin Club agenda on purpose

20 april 2016 | Vedomosti

“The twist involving the turnaround of the monetary policy may very well have been put on the agenda of the Stolypin Club on purpose to call attention to it and to get the participants to discuss important issues,” said the Head of the Analytical Center Konstantin Noskov, speaking at the April conference of the Higher School of Economics, according to Vedomosti.

Konstantin Noskov
Konstantin Noskov

Mr. Noskov reminded those participating in the discussion that the agenda of the Stolypin Club, which calls for new money to be emitted and interest rates to be subsidized to stimulate the economy, at best devotes 10% of its content to the issues of the monetary policy. The bulk of the program has to do with measures aimed at reducing administrative barriers and pressure on business. However, some of the ideas included in the program are being sharply criticized by the expert community on the grounds that they contradict the basic laws of economic growth. Nevertheless, the very fact that the economic policy is being discussed and that the proposed ideas managed to stir some controversy is a good thing: given some refinement and careful implementation they may very well help reform the economy.

Source: Vedomosti