Russian Central Bank to Pursue Monetary Policy Aiming to Return Inflation to Target - Tremasov

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The Russian Central Bank will respond to challenges and implement monetary policy measures to bring inflation back to its target by 2027, if necessary, according to Kirill Tremasov, an advisor to the Chairman of the Central Bank of Russia (CBR). He made the statement during the Eastern Economic Forum.

"We have no obstacles to implementing policies that would return inflation to the target next year. Of course, no one is immune to external shocks, but we will respond to these shocks in any case; the principles of monetary policy remain unchanged," Tremasov was quoted as saying by Interfax.

He noted that the deviation of inflation from the target in the current year was due to a series of shocks, including developments in the fuel market. Tremasov emphasized that monetary policy cannot quickly eliminate supply shocks, "which is why inflation deviated from the target this year."

• Earlier, the regulator raised its inflation forecast for 2026 from 4.5-5.5% to 6-7%.