MOSCOW, February 13. /TASS/. The decline in inflationary expectations will occur rather slowly, requiring a smoother trajectory for reduction of the key rate, Russian Central Bank Governor Elvira Nabiullina said.

"Over the past four years, when inflation targets were not met due to inflationary shocks, inflation expectations became entrenched at elevated levels. Their decline will occur quite slowly, including due to the increased rate of adjustment of regulated services and tariffs in the coming years," she told a press conference following the meeting of the regulator’s Board of Directors.

"All this will require us, all things being equal, to pursue a smoother trajectory for reduction of the key rate. It will enable us to return stable inflation to 4% in the second half of the year, and to bring the economy back to a balanced state," Nabiullina added.

Meanwhile Russian households’ inflation expectations remained unchanged this January, while the price expectations of businesses, after the January surge, fell significantly in February and even returned to October levels, she noted.