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Long period of tough monetary policy required — Bank of Russia

The Bank of Russia will consider an opportunity of lifting the key rate if the disinflation rate proves to be insufficient for the return of inflation to the target by 2026

MOSCOW, April 9. /TASS/. A long-term period of tough monetary conditions in the economy will be required, the Bank of Russia said.

"According to the assessment of the Bank of Russia, the achieved toughness of the monetary policy creates required preconditions to resume the disinflation process and return inflation to the target in 2026. A long-term period of keeping tough monetary conditions in the economy is required in the base case scenario," the regulator said.

The Bank of Russia will consider an opportunity of lifting the key rate if the disinflation rate proves to be insufficient for the return of inflation to the target by 2026, it added.