MOSCOW, January 23. /TASS/. A policy aimed at maintaining low inflation also contributes to stabilizing the national currency’s exchange rate, Bank of Russia Deputy Governor Alexey Zabotkin said on the regulator’s official Telegram channel.
"A policy focused on low inflation simultaneously works to stabilize the exchange rate. External shocks may cause volatility, but with low inflation there cannot be a continuous, self-sustaining quarter-to-quarter devaluation," Zabotkin noted.
He also recalled that two years ago the regulator assessed whether the 4% inflation target was optimal from various perspectives. "The conclusion (the materials are posted on the website in the section on the Monetary Policy Review) was that by the end of 2021 there were already conditions for a lower target. We will return to the issue of lowering the inflation target after inflation stabilizes at the current 4% level," he emphasized.