Rate decisions to be future-oriented, Bank of Russia says Central Bank chief Elvira Nabiullina emphasized that monetary policy affects the economy and prices with certain lags. This means that current policy decisions have a delayed influence on economic conditions and price levels. Therefore, future monetary policy considerations will need to account for these time lags.

• Monetary policy influences the economy and prices with certain lags.
• Central Bank chief Elvira Nabiullina made this emphasis.
• Future policy decisions will need to account for these time lags.