Russian Central Bank to revise inflation and key rate forecasts

The Russian Central Bank’s inflation outlook for this year will obviously be revised, Advisor to the regulator’s Governor Ksenia Yudaeva said.

"It [inflation outlook for this year] will obviously be revised as the July meeting will see a new outlook released. We regularly revise the outlook. Considering the fact that actual inflation is higher than projected [inflation] the outlook will obviously be revised," Yudaeva said.

She noted that the key rate outlook will probably be revised as well.

According to the Central Bank’s outlook, the current monetary policy will limit excessive expansion of the domestic demand and its proinflation consequences.

Considering the current monetary policy, annual inflation will decrease to 4.3-4.8% in 2024 and remain close to 4% in the future.