MOSCOW - "Factors contributing to the slowdown in inflation are gaining momentum. First of all, credit continues to cool amid a rise in the population's savings activity," the regulator's board said after the meeting.
According to her, the tightening of monetary conditions already obtained may be enough to slow inflation in the coming months. However, in case of insufficient rigidity, the Bank of Russia is ready to return to the discussion of a key rate hike at the next meeting.
Elvira Nabiullina recalled that by the end of last year, sustainable inflation indicators exceeded 10 %. She described this level as unacceptably high for the country's central bank.
End of rates: 14 Russian banks cut deposit yields
Financiers decided not to wait for the central bank's next key rate decision
The Central Bank of the Russian Federation announced on February 14 that the key rate will remain at 21 % per annum. The regulator also forecast inflation to fall to 7-8 % this year and return to 4 % in 2026.
TASS / gnews.cz-jav
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