“Thanks to these factors, inflation is falling faster than we expected. This allows us to lower the key rate today without creating new pro-inflationary risks. We allow for the possibility of further easing of the key rate at upcoming meetings. The first months (since February) were a time for tactical decisions: we had to counteract the first sanctions shock. We managed to protect financial stability and not allow an inflation spiral to unfold. But this, of course, absolutely does not mean that we can breathe easily.”
26 May 2022
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