MOSCOW, November 7. /TASS/. Sberbank's analysts note a slowdown of inflation in Russia at the end of October and the beginning of November, Chief Executive Officer of Sber Herman Gref told reporters.

"We already see a slowdown of inflation at the end of October and the beginning of November. If inflation slows down the Central Bank will get its policy back to normal, with lending rates recovering," he said.

Earlier, Gref said that the Bank of Russia could return to moderating its monetary policy within half a year.

Russia’s Central Bank shifted to the key rate increase in July as it raised it to 8.5% in July, to 12% in August, to 13% in September, and to 15% in October.