The Central Bank does not agree to change the target for inflation, said Nabiullina

© RIA Novosti / Kirill to Kallinikova in fotoreceptor the Central Bank of Russia Elvira Nabiullina. Archival photoThe Central Bank does not agree to change the target for inflation, said Nabiullina© RIA Novosti / Kirill to Kallinikova the image Bank

The Bank of Russia considers the correct level of inflation target at 4%, do not agree with the proposals to change the target, the head of the regulator Elvira Nabiullina, speaking at the Gaidar forum.

«Offered us to change the inflation target is to make 2% in developed countries. We do not agree with this. We believe that for the Russian economy, which is going to diversify, which is going through structural changes… 4% is the right level of purpose,» she said.

«In any case, even if the best you can not change the objective because the benefit of low inflation is its predictability and the fact that the business people will begin to trust that inflation will be at this level», she added.

According to the head of the regulator, Central Bank policy aimed at keeping inflation close to 4% and to minimize deviations from the 4% both up and down.

«Unfortunately these fluctuations are, we have to admit it. And according to our estimates, in the medium term, inflation is more risk to deviate up 4% than down,» — said Nabiullina.

The RIA Novosti media group «Russia today» is the official news Agency of the Gaidar forum in 2018. The organizer of the forum «Russia and the world: aims and values» is the Russian Academy of national economy and state service under the President of the Russian Federation (Ranepa).

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