Nabiullina: The Central Bank will gradually lower the rate to avoid a new surge in inflation

15:59; 25 July 2025 year

Elvira Nabiullina, head of the Central Bank of Russia, said at a press conference following a board meeting that the regulator would gradually reduce the key rate in order to avoid a new spike in inflation.

"We will not allow a new round of inflation," Nabiullina replied to a question about the risks of price increases with a rate cut.

She stressed that a sharp rate cut without taking into account inflationary processes could lead to higher prices and an unwinding of the investment spiral.

The head of the Central Bank also noted that the regulator is concerned about the growth of inflation expectations. According to her, the Central Bank hopes that these expectations will decrease along with inflation, as it was in 2017 and 2019.

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