“We expect that next year inflation will slow down to 4.0-4.5% and will stay close to 4% in the future.
At the same time, our policy will not restrain sustainable rates of economic growth, ”said the head of the Bank of Russia Elvira Nabiullina.
She noted that “decisions to raise the key rate in June-July are aimed at limiting the risk of a more significant and prolonged deviation of inflation up from the target and its return to 4% by the end of 2022”.
The head of the Bank of Russia Elvira Nabiullina said earlier that inflation in Russia will become a long-term phenomenon.
According to her, the Central Bank will continue to pursue a tight monetary policy.
On July 23, the Bank of Russia Board of Directors decided to raise the key rate to 6.5% per annum.