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Central Bank expects Fitch to upgrade Russia’s sovereign rating

October 13, 13:29 UTC+3
Inflation in Russia will be close to the lower bound of the Central Bank’s outlook of 5.5% in 2016, Nabiullina predicts
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KAZAN, October 13. /TASS/. The Bank of Russia expected Fitch Ratings to upgrade Russia’s sovereign rating, the regulator’s Chief Elvira Nabiullina said Thursday.

"We hope the rating will be upgraded, and there are reasons for that, such as the macroeconomic stability, sustainability, economic revival," she said, adding that the country’s monetary and fiscal policy "ensures long-term financial sustainability of the Russian economy." 

Inflation in Russia will be close to the lower bound of the Central Bank’s outlook of 5.5% in 2016, Nabiullina predicts:

"We have not updated (the forecast), 5.5-6%. But, according to our estimates, inflation will be closer to the lower bound of the outlook in 2016."

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