— As before. We are not extending these canada telegram data lags, but, of course, some decisions can be made and implement more quickly, or more slowly. It also depends on other factors. On inflation expectations, the dynamics of the exchange rate, many things influence. Therefore, in general, we proce from the fact that the decisions on the key rate work, and we see that they work. They work with lags. We will evaluate how the effects of the decisions we have already made are realiz in the economy.
— In September, you said that high
rates in Russia would be here for a long time. And it seems that this only fuel demand for loans. Is there a feeling that because of such a clear signal, the market in some sense play against the Central Bank?
— No, I don’t have such a feeling. Naturally
some effects of this kind manifest themselves, but they would be serious if inflation continu to grow and we rais the key rate very slowly. Then people would understand perfectly well that inflation would not slow down, would youth and sports animal love books and animal continue to grow, and the rate would continue to grow. We tri to act decisively. Let me remind you that in six months we rais the rate from 7.5 to 16%. And each time we evaluate whether the monetary ao lists policy is tight enough to achieve our inflation target of close to 4% by next year.