MOSCOW, September 12. /TASS/. The current inflation dynamics leave room for continued monetary policy easing, while a further slowdown in the rate of price growth will be the main factor in making appropriate decisions, head of the Economic Development Ministry’s Department of Macroeconomic Analysis and Forecasting Lev Denisov said when commenting on the Central Bank’s decision to cut the key rate to 17% per annum.

"Rosstat data and operational indicators highlight a significant slowdown in economic activity. At the same time, inflation has slowed from its peak. The decision of the Bank of Russia to lower the key rate has become an important step," he said. "We proceed from the fact that the current inflation dynamics leave potential for continued easing of monetary policy, while a further slowdown in the rate of price growth will be the main factor in making relevant decisions. This is extremely important for timely entering the trajectory of sustainable growth and achieving the goals set by the President," Denisov added.

The Bank of Russia has lowered the key interest rate for the third consecutive time, this time by 1 percentage point, bringing it down to 17% per annum. The regulator intends to maintain such a level of monetary policy strictness as necessary to bring inflation back to target by 2026, with further decisions on the key rate to depend on the sustainability of the inflation slowdown and the dynamics of inflation expectations.