MOSCOW, May 7. /TASS/. Growth in export revenues creates conditions for the ruble to remain strong in the coming months, according to the materials published on the Bank of Russia’s website.
"A strong ruble supports disinflationary processes. Growth in export revenues creates conditions for the exchange rate to remain strong in the coming months, despite the resumption of operations under the budget rule," the regulator said.
According to the Central Bank’s estimates, the impact of rising external inflation on domestic prices is likely to remain limited due to the strengthening ruble, the operation of damping mechanisms, and the structure of imports by country.
The Bank of Russia also estimated inflation in the country at 5.9% at the end of the Q1 of 2026, with the forecast for the Q2 of 2026 also standing at 5.9%.
"Following the first quarter of 2026, inflation stood at 5.9%, slightly below the February forecast of 6.3%. This was due to weaker domestic demand and lower price growth rates for a number of volatile components than expected in the February forecast. The current monetary policy will ensure that sustainable inflation returns to 4% in the second half of 2026. At the same time, annual inflation will decline to 4.5-5.5% in 2026 and return to the target level of 4% in 2027," according to the regulator’s commentary on its medium-term forecast.