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MOSCOW, June 9 The Bank of Russia confirms its determination to return inflation in Russia to 4% in 2024, Elvira Nabiullina, head of the regulator, said.
«We reaffirm our determination to bring inflation back to the target next year and keep it on target in the future. In the context of growing inflationary pressure, we admit the possibility that in order to keep inflation, an increase in the key rate will be needed already at the next meetings,» she said during a press conference.
«The rate change step will be determined by the extent to which the incoming data will influence our assessment of the risk balance to achieve the 4% target in 2024,» Nabiullina added.
On Friday, the Central Bank left the key rate unchanged — at the level of 7.5% per annum. This was the second time in history that the regulator kept the key rate for six meetings in a row.