Funeral ceremony for Tu-154 crash victims held at military memorial cemetery near MoscowSociety & Culture January 16, 14:57
Russian combat engineers defuse over 20,000 munitions in AleppoMilitary & Defense January 16, 14:41
Kremlin: Russia is not going to groundlessly accuse other countries of cyberattacksRussian Politics & Diplomacy January 16, 14:30
Russian Helicopters sign first contract for civil products supply to PakistanBusiness & Economy January 16, 14:25
Montenegro accuses Russian national of inciting assassination plot against ex-premierWorld January 16, 13:48
IAC commission to join investigation of Bishkek air crashWorld January 16, 13:38
Kudrin says pension age should be raised starting from 2019 in RussiaBusiness & Economy January 16, 13:32
Flight recorder recovered at crash site of cargo Boeing-747 near Bishkek — sourceWorld January 16, 13:28
Kremlin agrees with Trump that NATO is 'vestige of past'Russian Politics & Diplomacy January 16, 13:16
MOSCOW, November 26. /TASS/. Russia’s inflation will start to slow down from the second half of 2015 when consumer price growth is curbed by the regulator’s recent monetary policy measures, Russian Central Bank (CBR) chief Elvira Nabiullina said.
Russia’s Central Bank is ready to ease monetary policy from the second half of 2015, she added. “Further on, as we see a steady trend towards slower inflation and lower inflationary expectations, we’ll be ready to relax monetary policy. In our estimates, this will become possible by the second half of 2015,” she said.
CBR raised the key rate four times in 2014, from 5.5% to 9.5% amid soaring inflation and the rapidly depreciating national currency. Consumer prices are likely to stop growing in April-June 2015, she said.
Nabiullina also said that the Сentral Bank has almost completed purge of the banking system. “Purging the banking sector must be done must be done to avoid more serious problems, which is necessary to protect depositors’ interests. Today, we are announcing that a significant part of that work has been done already,” Nabiullina said.
The Central Bank shut 32 in 2013 and 80 in 2014 out of nearly 1,000 banks due to high-risk lending policies or dubious transactions.
The basis for a gradual establishment of the Russian banking system in Crimea has been created, local banks provide all basic services, Nabiullina said. Crimea has fully replaced the hryvnia with the ruble, ahead of the schedule, she said.