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High key rate is temporary phenomenon — Novak

Alexander Novak said the monetary policy is expected to be eased, as inflation will go down

MINERALNYE VODY, May 26. /TASS/. The high key rate of the Bank of Russia is temporary and the current monetary policy will soften next to inflation downward trend, Russian Deputy Prime Minister Alexander Novak said at the Caucasus Investment Forum.

"Certainly, all of us are now in rather challenging conditions, considering the high key rate. We understand this is a temporary phenomenon. As inflation will go down, and we already see it, we expect that the monetary policy will be eased," Novak said.

The Caucasus Investment Forum is being held from May 25 to 27. TASS is the information partner of the forum.

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Alexander Novak

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