Central Bank of Russia keeping inflation target at 4% for now, will not consider lowering it before 2028

MOSCOW. Aug 29 (Interfax) - The Central Bank of Russia is keeping its inflation target at 4% for now but will consider lowering it in the future after inflation stabilizes near the target, according to the draft monetary policy guidelines for 2025-2027.

"At the current stage, the Bank of Russia has decided to maintain the inflation target at 4%. The Bank of Russia will assess whether to lower the inflation target after inflation slows and has stabilizes near 4%, the regulator said.

But it said it would not be possible to lower the target before 2028. "If such a decision is made, it will be announced several years ahead of the proposed change. This will minimize the costs of the economy's transition to a new target level," it said.

The Central Bank plans to continue discussing a lowering of the target with businesses, the analytical and expert community, public organizations, the government and the Federal Assembly.