The conflict in the Middle East remains the factor of uncertainty and will lead to inflation acceleration globally under the base case forecast of the Bank of Russia, Central Bank chief Elvira Nabiullina said at the press conference after the Board meeting.
She noted that the situation in the Middle East remains the uncertainty factor.
"According to our base case scenario, the conflict will lead to the decline of growth rates of the world economy, the global rise in logistical and other costs, inflation acceleration and higher rates globally," Nabiullina said.
The Bank of Russia lowered the key rate earlier today for the eighth time in a row, this time by 0.5 percentage point (pp) to 14.5% per annum.
