The Central Bank considered it necessary to tighten policy to combat inflation
The Central Bank spoke about measures aimed at reducing the level of inflation.
The regulator considers it necessary to tighten the norm of monetary conditions.
This is stated in a commentary on the Bank of Russia website .
In order to resume the process of reducing inflation, additional tightening of monetary conditions is necessary, the Central Bank stated.
This will enable us to achieve positive results in 2025.
The inflation situation remains difficult now. In July 2024, the regulator predicted that the figure for the year would be 6.5–7%.
But now the Central Bank believes that inflation in 2024 will be higher than this forecast.
The Bank of Russia is confident that the situation will stabilize in 2025, when inflation reaches the optimal level of 4%.
But to achieve this, the regulator will have to further tighten monetary policy.
The Central Bank recently raised the key rate from 18% to 19%. But experts do not rule out that Russia will face another increase to 20%.
The next meeting of the Bank of Russia on the key rate is scheduled for October 25.
