MOSCOW, September 12. /TASS/. Housing construction volumes in Russia have increased, with prices having doubled, Central Bank Governor Elvira Nabiullina said.

"Since the beginning of 2020, housing construction volumes in Russia have increased by 10%, while housing prices have doubled," she told a press conference following the regulator’s board meeting on the key rate.

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.