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Bank of Russia to keep inflation around 4%, assess need to lower target in future

Should such a decision be made, it will be announced a few years before the change, the regulator said

MOSCOW, August 31. /TASS/. The Bank of Russia aims to keep inflation close to the 4% target and will assess the reasonability of lowering the target in the future, according to its Monetary Policy Guidelines.

"The target of the monetary policy of the Bank of Russia is an annual inflation rate of close to 4%. The target is effective on a permanent basis. The inflation rate is calculated by Rosstat based on the consumer price index (CPI). As part of its Monetary Policy Review to be completed in 2028, the Bank of Russia will analyze when the economy will be able to form the prerequisites for reducing the inflation target and to what level," according to the document.

Should such a decision be made, it will be announced a few years before the change, the regulator noted.

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