The central bank announced plans to maintain a tight monetary policy

The Bank of Russia (CBR) will maintain a tight monetary policy in order to eliminate both the acceleration of price growth and the need to raise the key interest rate. This was reported on February 3 in the bulletin "What the trends say", prepared by the Central Bank's Research and Forecasting Department.

"The reaction of prices to the increase in taxes and tariffs in January carries risks of maintaining high inflation expectations of the population and businesses. In turn, this may lengthen the inertial inflationary "tail" from the January price increase and slow down the further decline in price growth. This requires additional care when making a decision on PREP in order to exclude a new round of sustained acceleration in price growth and the need to raise the key rate," the publication says.

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