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Central Bank’s decisions to provide for inflation reduction in next quarters — governor

The Bank of Russia takes the pause in increasing the key rate but a long period of tough monetary policy will be required to bring inflation back to the target, Elvira Nabiullina stressed

MOSCOW, December 20. /TASS/. Decisions made by the Bank of Russia at the meeting today will provide for inflation decline in the country in next quarters, Central Bank chief Elvira Nabiullina said at the press conference after the regulator’s Board meeting.

"We made the decision today to keep the rate at the level of 21% per annum. Tough monetary conditions have evolved in the economy, which are to provide for inflation slowdown in coming quarters," she said.

The Bank of Russia takes the pause in increasing the key rate but a long period of tough monetary policy will be required to bring inflation back to the target, Nabiullina stressed.