According to her, the Central Bank continued to ease monetary policy, taking into account the continued risks of inflation deviating from 4% in 2021.
“This is due to a significant decline in economic activity, a drop in domestic and foreign demand. The recovery, according to our estimates, will take more than 1.5 years, which will have a restraining effect on price dynamics, "Nabiullina is quoted by Interfax.
On July 24, the Central Bank, following a meeting of the Board of Directors, lowered the key rate to 4.25% per annum.