The Bank of Russia will be ready to raise the key rate again this year if signs of lasting slowdown of inflation do not appear, central bank chief Elvira Nabiullina said.
"We lifted the key rate with notable steps at latest meetings and we will be ready to do it again unless we see signs of consistent inflation slowdown and inflation expectations cooldown," Nabiullina said.
The regulator has an efficient inventory of tools to return inflation to the target level of 4%, she stressed. Inflation is consistently deviating from the target since 2021 and such protracted deviation can result in loss of an anchor for investment expectations and loss of reference points by economic agents, she reminded.
"The experience shows that the period of keeping high rates should be a long one in such environment," Nabiullina added.
