The head of the Bank of Russia Elvira Nabiullina believes that inflation in Russia will be a long-term phenomenon. She expressed this opinion in an interview with the Financial Times.
“We had a very long period of high inflation in the late 1990s and 2000s. Our population lived during low inflation for only very short periods of time. Inflation expectations were more subdued when conditions were stable, but our economy is responding to the pandemic, prices are going up, "she said.
Nabiullina noted that the Central Bank of Russia will continue a tight monetary policy.
