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ViewpointSeptember 1 2017

Elvira Nabiullina: how Russia is meeting inflation expectations

Russia's central bank governor talks to Stefanie Linhardt about how the country is reaching its inflation targets, why its international reserves have been rising, what impact low interest rates have had, and why Russia's banking sector is now in a stable position.
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Q: Russia is  now very close to its 4% inflation target for the year-end. Is the Russian central bank's work on inflation targeting practically done? How easy is it to maintain inflation around the target?

A: Indeed, we have virtually reached our inflation target, with inflation being only marginally above 4% [as of June]. Now, our key task is to achieve sustainability and make certain that inflation stays close to the target.

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