The Central Bank will make every effort to low and stable inflation, said Nabiullina

© RIA Novosti / Maxim to Aminopherase in fotoreceptor Central Bank of the Russian Federation Elvira Nabiullina at the plenary meeting of the State Duma of the Russian Federation. 9 Jun 2017<img src="/wp-content/uploads/sites/5/2017/06/e19d3f15f154340c953525bc4ed9c0d0.jpg" alt="The Central Bank will make every effort to low and stable inflation, said Nabiullina" />© RIA Novosti / Maxim to Aminopherase the image Bank

The Bank of Russia will make every effort to ensure that the pace of price growth in Russia was low and stable, said Chairman of the Central Bank Elvira Nabiullina at the meeting of the state Duma.

«We will endeavour that inflation was low and stable, and on this basis will decrease rates in the economy and will be more available credit,» she said.

The head of the Central Bank reiterated that the objective of overall economic policy is to «enhance growth, to ensure that the economy grew more than 1.5-2%, which may be in the inertial growth». This can only be done through the renewal of production, productivity growth, and this requires investment, which, in turn, need low inflation, said Nabiullina.

«Therefore, the key task of monetary policy is the transition from inflation to the target level, what we were doing in 2016 what do you do now to support inflation stable at a low level constantly to the population and the business fully able to benefit from persistently low inflation. And reduced interest rates on loans… expand the planning horizon», she said.

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