Nabiullina: inflation fell below 4%, the decision on the rate will be made to stabilize it

The Bank of Russia will decide on the key rate, taking into account the combined influence of all factors, both external and internal, in order to stabilize the inflation rate in Russia. This was stated by the head of the regulator Elvira Nabiullina during a speech in the State Duma.

Ms. Nabiullina drew attention to the fact that according to the results of March 2023, annual inflation in Russia fell below 4%. According to her, most likely, in April it will decrease even more. The head of the Central Bank noted that currently the rate of price growth in Russia remains moderate, but they are still higher than they were in the summer and autumn of last year.

“Now the key rate remains at the level of 7.5%. We have been keeping it at this level for six months now. Yes, the annual inflation rate fell below 4% in March and will probably fall further in April. But these low annual figures mostly reflect very low monthly price growth rates last summer and autumn,” she said (quoted by TASS).

The last time the meeting of the Central Bank on the key rate was held on March 17. Then the regulator for the fourth time decided to keep the key rate at 7.5%. On April 11, at a meeting with the government on economic issues, President Vladimir Putin saidthat inflation in Russia by the end of the current month may fall below 3%. According to the forecast of the Bank of Russia, inflation in the country by the end of 2023 will be at the level of 5-7%.

On the situation in the Russian economy – in the material “Kommersant” “We write zero, one in the mind”.