Russian Finance Ministry: 2017 inflation may reach 4%

Inflation in Russia is now more likely to hit the Central Bank's target of 4% in 2017 than it was previously expected, the Russian Deputy Finance Minister Maxim Oreshkin said.

He also said that inflation expectations had also eased for 2016 and inflation this year was now forecast at 5.7%, Reuters reports.

Oreshkin added that a programme of new overnight bonds approved by the VTB bank might help more balanced liquidity spreading on the domestic market.