OREANDA-NEWS Russian President Vladimir Putin expressed hope that the high key rate of the Central Bank of Russia (CBR) is a temporary step to combat inflation, and the authorities will be able to achieve indicators corresponding to the plans, RIA Novosti reports.

"In the context of a rise in the Central Bank's key rate, of course, we need special mechanisms. I hope that this is a temporary measure to combat inflation and we will achieve key indicators in the near future — those that we set ourselves, both the government and the Central Bank mean," the agency quotes the head of state as saying at a meeting on supporting investment projects in Russian industry.

Putin spoke on this issue against the background of the decision of the board of directors of the Central Bank of the Russian Federation to keep the key rate at 16 percent per annum.

The Central Bank noted that the current level of the indicator is beginning to have an impact on the situation, as evidenced, in particular, by a decrease in inflation expectations and a slowdown in price growth compared to the autumn level, but it is too early to talk about a rate cut.