Bank of Russia says annual inflation to hit peak levels in spring-summer of 2024
Speaking about the potential hike of the key rate at the next meeting of the regulator’s board of directors, the regulator’s Deputy Governor Alexey Zabotkin said that the Bank of Russia would "consider the reasonability of additionally raising the rate relying on the revised outlook".
The Bank of Russia expects annual inflation to reach peak levels next spring-summer, the regulator’s Deputy Governor Alexey Zabotkin said.
"The highest level of annual inflation will probably be passed in spring-summer," he told reporters.
Speaking about the potential hike of the key rate at the next meeting of the regulator’s board of directors, Zabotkin said that the Bank of Russia would "consider the reasonability of additionally raising the rate relying on the revised outlook." "Much figures are expected by that moment," he noted.
According to the Central Bank, considering its current monetary policy annual inflation in the country will total 6-7% in 2023, return to 4% in 2024 and remain close to 4% in the future.
The next meeting of the regulator’s board of directors where the issue of the key rate, as well as the potential adjustment of the parameters of the Central Bank’s macroeconomic outlook will be considered, is scheduled for October 27.
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The Bank of Russia expects annual inflation to reach peak levels next spring-summer, the regulator’s Deputy Governor Alexey Zabotkin said.
"The highest level of annual inflation will probably be passed in spring-summer," he told reporters.
Speaking about the potential hike of the key rate at the next meeting of the regulator’s board of directors, Zabotkin said that the Bank of Russia would "consider the reasonability of additionally raising the rate relying on the revised outlook." "Much figures are expected by that moment," he noted.
According to the Central Bank, considering its current monetary policy annual inflation in the country will total 6-7% in 2023, return to 4% in 2024 and remain close to 4% in the future.
The next meeting of the regulator’s board of directors where the issue of the key rate, as well as the potential adjustment of the parameters of the Central Bank’s macroeconomic outlook will be considered, is scheduled for October 27.
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