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Central Bank: Return of inflation to 4% in 2025 requires tightening of monetary policy
Tightening of monetary policy (MP) is necessary to return inflation to the target level of 4% for Russia next year. This is stated in the bulletin “What do modern trends say”, prepared by the Department of Research and Forecasts of the Central Bank of Russia.
"The annual rate of inflation eased in September but little further slowdown is expected this year." With car scrappage costs and utility bills rising significantly, further austerity measures are likely to be needed to bring inflation back to 4% in 2025. "Financial conditions," the notice board says.
At its latest meeting, the central bank raised interest rates to 19%. The head of the organization, Elvira Nabiullina, had previously not ruled out the possibility of further tightening of policy.