Slowing inflation even over a quarter of a year won't shift monetary policy trends - Russian Central Bank governor's advisor

ST. PETERSBURG. Dec 6 (Interfax) - A slowdown in inflation over the next few months will not lead to a sharp change in monetary policy, advisor to the Russian Central Bank governor Kirill Tremasov said.

"I want to emphasize that we will certainly, absolutely certainly, need a prolonged period to be confident in the sustained nature of disinflationary processes. I think it will take at least two or three quarters, possibly longer, to confirm the stability of these disinflationary trends. Only after being assured that the process has become stable and we are returning to 4% [inflation] can we move toward lowering the rate," Tremasov said when speaking at the Russian Bond Congress organized by Cbonds.

The CBR has no compromises when it comes to achieving price stability, he said.

"Society has tasked us with ensuring price stability, and we will achieve this despite any headwinds," he said.

As previously reported, during the congress Tremasov said that he did not rule out that inflation might exceed 9% by the end of 2024, higher than the CBR's October forecast of 8%-8.5%.