Russia's Central bank reveals mechanisms of rate decisions

Russia's Central Bank chairperson Elvira Nabiullina told about the bank's mechanisms of key rate decisions, speaking at the Russia Calling! business forum.

According to her, there are several principles that are important here. "First, we decide basing on a forecast. And a three-year forecast is of significant importance here if we don’t want our monetary policy to react late, because all monetary policy measures have an impact with a lag," PRIME cited her as saying.

Nabiullina added that the Russian Central Bank also bases its decisions on stable tendencies, on long-term factors.