Bank of Russia does not see risks of inflation above forecast

Bank of Russia does not see risks of inflation above forecast – first deputy chief

Business & Economy July 04, 2023, 22:57

First Deputy Chairman of the Bank of Russia Ksenia Yudaeva noted that inflation is now slightly more than 3% year-on-year

ST. PETERSBURG, July 4. /TASS/. The Bank of Russia does not see risks for inflation to cross limits of the April forecast of the Central Bank totaling 4.5-6.5%, First Deputy Governor Ksenia Yudaeva told reporters.

"I do not see any risks so far that we will be strongly above forecast limits but inflationary risks relatively to the current situation are nevertheless shifted upward," she said.

Inflation is slightly above 3% in annual terms now and it currently has slightly increased from low levels, Yudaeva noted.

The Bank of Russia will present an updated forecast at the next Board meeting on the key rate on July 21.