The condition for easing the monetary policy of the Central Bank has been named

The transition to a looser monetary policy (MCP) of the Central Bank (CB) will become possible with a steady slowdown in the growth rate of consumer prices in Russia. This was stated by the head of the Ministry of Economic Development (Mineka) of the Russian Federation, Maxim Reshetnikov, his words are quoted by TASS.

Returning to the target (4 percent), he explained, will take time. According to the regulator's forecast, this will happen no earlier than next year.

Further actions of the Central Bank will depend on the dynamics of inflation, Reshetnikov noted. This also applies to decisions on the key rate. “The possibilities of easing monetary conditions will depend on the sustainability of the slowdown in inflation,” the minister concluded.

Following the September meeting, the board of directors of the Central Bank left the key rate unchanged for the first time in a long time. The regulator's management kept the level at 14 percent per annum.