Bank of Russia Concedes Focus Shifting as Inflation Nears Target
- Nabiullina sees policy focused on keeping prices low, stable
- Central bank won’t ease ‘sharply and quickly,’ governor says
The headquarters of the Russian central bank, also known as Bank Rossii, in Moscow.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russia’s central bank is shifting gears as the goal of achieving its inflation target gives way to policy normalization.
After a period of two years when rate setters focused on disinflation, steering price growth from almost 17 percent to near 4 percent, their attention now is on keeping it stable and low, Bank of Russia Governor Elvira Nabiullina said on Thursday at a panel during the St. Petersburg International Economic Forum.