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Bank of Russia to take all measures for low inflation — Central Bank chief

The dramatic cut of the key rate and unpredictable high inflation "are capable of destroying long-term lending," Elvira Nabiullina noted

ST. PETERSBURG, July 3. /TASS/. The Central Bank will take all the measures for inflation to be predictable and low, Governor of the Bank of Russia Elvira Nabiullina said.

"We definitely need long-term available resources for financing. Therefore, it seems to me inflation is indeed absolutely harmful economically and socially, and we will endeavor that it is predictably low and that sustainable economic development to take place on its base," she said.

The dramatic cut of the key rate and unpredictable high inflation "are capable of destroying long-term lending," Nabiullina noted.

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Central Bank of Russia

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