Central Bank Chief Nabiullina Announces Turning Point in Fight Against Inflation
Central Bank head Nabiullina announced a turning point in the fight against inflation.
The head of the Central Bank of the Russian Federation, Elvira Nabiullina, emphasized that the country has reached a turning point in the fight against inflation.
She reported that in the coming months, a slowdown in the growth of corporate lending will help reduce inflation, RIA Novosti emphasizes.
According to the head of the Central Bank, the slowdown in lending will reduce overall demand, and the rate of price growth will decrease.
The reduction in prices, in turn, will confirm that economic policy has begun to work and is containing inflation.
The head of the Central Bank also emphasized that next year, in the absence of new economic crises, a reduction in the key rate is possible.
The Bank of Russia expects that inflation will decrease in 2025 and remain at a level of 4–4.5%.
As inflation declines, the Central Bank will consider the possibility of gradually reducing the rate.
For reference
Inflation is a steady increase in the general level of prices for goods and services, a process of devaluation of money.
