Bank of Russia vows to curb inflation

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MOSCOW, March 1. /TASS/. Despite criticism against the background of the key rate increase in 2018, the Bank of Russia will endeavor to keep inflation within the range limits, Central Bank chief Elvira Nabiullina said in an interview with the IMF periodical journal.

“We’ve faced critics because of key rate, but we also see how fast people started to take low inflation as normal, how much they are concerned about its growth. And this helps to set our priorities straight: low inflation is important for everyone, we’ll do what’s needed to keep it within the target in spite of critics,” Nabiullina noted.

The Bank of Russia increased the key rate twice in 2018 in connection with growing inflation risks, in September to 7.5% (for the first time since 2014) and in December to 7.75%.

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