OREANDA-NEWS. February 07, 2011. Bank of Russia is set to make decisive measures to keep inflation within the set 6-7% target range this year, the central bank president, Sergei Ignatiev said at an ECB workshop in Frankfurt. In this context, Bank of Russia could upgrade the refinance rate and increase banks’ reserve ratio. In addition, Ignatiev pointed to the threat of “imported inflation” following an upsurge in world commodity prices.

He added CPI would continue to grow for another 2-3 months, while inflation in food prices could last till the summer.