Russian Central Bank gives inflation forecast

Russian Central Bank gives inflation forecast

Inflation will remain near the 4% target in Russia during 2019, director of the Central Bank's department of monetary policy Alexey Zabotkin said.

According to Zabotkin, inflation in Russia has slowed thanks to a stronger ruble and the government decision to limit the rise of petrol prices.

According to the Ministry of Economic Development's official outlook, inflation is expected to total 4.3% by the end of 2019. In March, the bank said annual inflation is seen slowing to 4.7-5.2% by the end of the year compared with up to 5.5% predicted previously.

He also said that the central bank plans to lower its key rate in 2019, but still considers current inflationary expectations to be high, Reuters reported.