The bank said the pace of this process depends on economic activity and the speed of recovery of demands.
The bank still believes that there is a need in withdrawal from the softened monetary policy, although current forecasts show that this process will be lengthy.
Based on this, in the medium term the committee decided to leave the monetary policy rate unchanged, in order to achieve the target inflation rate.
It is expected that there will be a phased growth in the inflation rate and achievement of the target level of 5 to 6 percent in the second half of 2014, according to forecasts of the
"Recently there has been a slowdown in the growth of exports, which shows a weakening of the external demand. It is also necessary to note the slow growth in lending activity, which affects the growth of domestic demand," the
The next meeting of the
Edited by CN
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