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Inflation to accelerate if economy remains overheated — Bank of Russia

The Bank of Russia sees the need to keep the tough monetary policy for a longer time than it expected a year ago, Deputy Governor of the Central Bank Alexey Zabotkin said

MOSCOW, August 29. /TASS/. Inflation in Russia will accelerate continuously if the economy remains overheated, Deputy Governor of the Central Bank Alexey Zabotkin told reporters.

"Inflation will accelerate continuously if the economy remains overheated and the key rate is the main and efficiently working tool of influencing inflation. We take into account at the same time that the share of the economy that is less sensitive to the monetary policy has grown," Zabotkin said.

The Bank of Russia sees the need to keep the tough monetary policy for a longer time than it expected a year ago, the official added.

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Central Bank of Russia

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