The Central Bank’s smooth monetary policy will not allow inflation rate to grow, according to Central Bank Governor Elvira Nabiullina.
She said that the public trusts the Central Bank; therefore, it was decided to lower the key rate. It is currently possible to take such steps with no risk of triggering an inflationary spiral.
Elvira Nabiullina stressed that devaluation of Russians’ salaries and savings will not happen. The inflation rate will not exceed 4%, Regnum reports.
Nabiullina also noted that the Central Bank’s decision to introduce a floating rate regime for the Russian ruble proved to be efficient.