“The return of inflation to the target in 2024 and its further stabilization around 4% implies a long period of maintaining tight monetary conditions in the economy,” the financial regulator said in a statement.
It is noted that, according to the forecast of the Bank of Russia, taking into account the current monetary policy, annual inflation will drop to 4.0–4.5% in 2024 and will be close to 4% in the future.
Earlier, the Central Bank of Russia stated that inflation expectations in the country still remain at an elevated level.