Nabiullina: inflation in Russia is still high

The Russian Central Bank will bring its key rate to 6-7% once inflation slows to 4%, the bank's Governor Elvira Nabiullina said at an economic forum.

Nabiullina said the central bank will aim at keeping interest rates above inflation, which is still very high, Reuters reports.

"Unfortunately, there is too high inflation," she said, noting that low inflation is a prerequisite for economic growth.