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Bank of Russia expects inflation to exceed forecast range of 6.5-7%

The current monetary policy is not tight enough for returning inflation to the target next year, Elvira Nabiullina added

MOSCOW, September 13. /TASS/. The Bank of Russia will revise its inflation forecast in October, the regulator’s Governor Elvira Nabiullina told a press conference following the meeting of its board of directors, adding that inflation is expected to exceed its forecast range.

"Considering the recent data we expect July inflation forecast of 6.5-7% to be exceeded. We will revise it at the October meeting," she said.

The current monetary policy is not tight enough for returning inflation to the target next year, Nabiullina added.

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Central Bank of Russia

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