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The path to low inflation has been a difficult one, said the head of the Central Bank, Elvira Nabiullina, speaking at a plenary session in the State Duma. The Chair of the Bank of Russia also did not rule out that it could have been different.
"Our path to low inflation has been long and winding. It could have been different. But it (the path) is necessary for financial stability," concluded Elvira Nabiullina.
Earlier, the Central Bank explained the risks of hasty rate cuts. By lowering the key rate quickly, it would have to "erase all the progress made" in the fight against inflation.
