The current situation points to risks of overcooling in the Russian economy, while inflation is slowing down, Russia's Economic Development Minister Maxim Reshetnikov said during a meeting of the State Duma Committee on Budget and Taxes on Monday.
"We also see risks of overcooling in the economy in the current conditions," Reshetnikov said.
According to the minister, in recent weeks inflation fits within the 3%-4% range if weekly data is annualized. He said that weekly data has not differed much from monthly data in May, so the ministry expects May data to confirm this trend.
"We expect this to be taken into account by the Central Bank in a timely manner when making decisions," Reshetnikov said.
The next meeting of the Bank of Russia on the key rate is scheduled for June 6.
