MOSCOW, July 25. /TASS/. Proinflationary risks still prevail over disinflationary ones in the mid-term horizon, the Bank of Russia said in a press release following its board meeting on the key rate.

"Proinflationary risks prevail over disinflationary ones in the mid-term horizon. The key proinflationary risks are associated with a longer upward deviation of the Russian economy from a balanced growth path and high inflation expectations, as well as with the deterioration in the terms of external trade," the regulator said.

A further decrease in the growth rate of the global economy and oil prices in case of escalating trade disputes may have proinflationary effects through the ruble exchange rate dynamics. Geopolitical tensions remain a significant uncertainty factor, the Central Bank noted.

Disinflationary risks involve a more significant slowdown in lending growth and domestic demand under the impact of tight monetary conditions, the regulator added.