MOSCOW, April 25. /TASS/. The stringent monetary policy should be preserved during a long period of time in order to reduce inflation in Russia, Central Bank chief Elvira Nabiullina said at the press conference after the Board meeting.

"To reduce inflation, we need to keep tough monetary conditions for a long period of time," she said.

Further action of the Central Bank will depend on the pace of inflation to slow down, Nabiullina said. Current price growth rates geared down and are at a level of 7% in annual terms. "It is still a lot, sensible for the people and the companies," she added.