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Bank of Russia plans to soften monetary policy quicker than anticipated earlier

The regulator sees certain room for further reduction of the key rate, the Central Bank said earlier

SOCHI, October 10. /TASS/. The Bank of Russia plans to soften monetary policy quicker than expected earlier, Governor of the Central Bank Elvira Nabiullina told reporters on the sidelines of the Finopolis forum.

"We will assess disinflationary and pro-inflationary factors. We see now that stable trends in inflation will most likely make possible for us to soften the monetary policy quicker than we anticipated earlier," Nabiullina said.

The regulator sees certain room for further reduction of the key rate, the Central Bank said earlier.

The Board of Directors of the Bank of Russia reduced the key rate to 7% at its meeting on September 6 for the first time since 2014. The regulator explained its actions by declining inflation.