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Bank of Russia addressed global trade wars in its macro forecast

The regulator also revised growth rates of the international economy and slightly lowered the estimate of oil prices

MOSCOW, April 25. /TASS/. The Bank of Russia has addressed the factor of global trade wars in its macro forecast and there is a need to trace the ultimate level of import tariffs, Central Bank chief Elvira Nabiullina said at the press conference after the Board meeting.

"From our point of view, the situation is evolving dynamically; it will be needed to trace the ultimate level of import tariffs established. We took into account the factor of trade wars in our forecast," Nabiullina noted.

The Central Bank also revised growth rates of the international economy and slightly lowered the estimate of oil prices, she said. "This is because the decline in prices of main commodities of our export is the main channel of the effect of these trade wars on the Russian economy," Nabiullina added.