MOSCOW, February 14. /TASS/. The Bank of Russia will consider the issue of key rate lifting at the forthcoming Board meeting if accumulated toughness of the monetary policy turns out to be insufficient, Central Bank chief Elvira Nabiullina said at the press conference after the Board of Directors’ meeting.
"We keep a pause in increasing the key rate. If accumulated toughness turns out to be not enough, we will be ready to revert to the rate increasing issue at the forthcoming meeting," she said.
The achievement of the 4% inflation target is not necessary to reduce the key rate but inflation should gear down, being supported by stable factors, Nabiullina added. "It is important for us to make sure that inflation is declining steadily to the target," she noted.