About the role and impact of refinancing on the economy: Russian and foreign experience

The Central Bank of Russia could influence the level of inflation in the country, providing the opportunity to credit institutions to the minimum refinancing rate and adjusting the sizes of crediting by commercial banks to legal and physical entities. But there happens exactly the opposite - they don't consider only one "small" detail which totally changes the way of fighting against the inflation - it is the cause of inflation. The fact that we have "inflation offers", not "inflation of demand”.