The consumer prices rose by 3.9% in January and 2.25% in February, 0.2% from February 25 to March 2. The dollar rate on March 10 dropped by 1.8519 rubles to 59.9938 rubles, the euro dropped by 2.2074 rubles to 66.1012 rubles. The bi-currency basket (0.55 dollars and 0.45 euros) dropped by 2.0119 rubles to 62.7421 rubles.
Dmitry Piskulov, the chairman of the board of the National Currency Organization, warned against hasty rejoicing. He said that it would take several periods before any actual slowing of the growth of consumer prices could be confirmed. In his words, the Bank of Russia expected inflation to speed up at the end of Q2 and then slow down throughout the year.
A positive tendency may encourage the Central Bank to lower the key rate, which is currently at 15% and keeps business in the country running. The next meeting of the board of directors of the Bank of Russia will be held on March 13, a decision may be made in April, according to Piskulov.
Overall, he predicts stabilization in the middle of the year and assures that inflation would drop in the second half of the year. The Central Bank forecasts an inflation level of 12% in 2015 and 10% in early 2016. The expert added that an oil price of $60 per barrel was fine. The currency inflow exceeds the outflow.
Alexander Abramov, deputy head of the State Duma committee for the financial market, said that the devaluating effect was getting weaker and consumer prices would drop. He compared the situation with the events in 2009-2010. Abramov predicts that inflation drop to 10% again. The ruble value is increasing because of growing oil prices, improvements in Ukraine. According to some evaluations, the oil price may hit $80 per barrel at the end of the year, allowing Russian currency to reach a value of 50 rubles per dollar, added Abramov.
The consumer prices rose by 3.9% in January and 2.25% in February, 0.2% from February 25 to March 2. The dollar rate on March 10 dropped by 1.8519 rubles to 59.9938 rubles, the euro dropped by 2.2074 rubles to 66.1012 rubles. The bi-currency basket (0.55 dollars and 0.45 euros) dropped by 2.0119 rubles to 62.7421 rubles.Dmitry Piskulov, the chairman of the board of the National Currency Organization, warned against hasty rejoice. He said that it would take several periods before any actual slowing of the growth of consumer prices could be confirmed. In his words, the Bank of Russia expected inflation to speed up at the end of Q2 and then slow down throughout the year.A positive tendency may encourage the Central Bank to lower the key rate, which is currently at 15% and keeps business in the country running. The next meeting of the board of directors of the Bank of Russia will be held on March 13, a decision may be made in April, according to Piskulov.Overall, he predicts stabilization in the middle of the year and assures that inflation would drop in the second half of the year. The Central Bank forecasts an inflation level of 12% in 2015 and 10% in early 2016. The expert added that an oil price of $60 per barrel was fine. The currency inflow exceeds the outflow.Alexander Abramov, deputy head of the State Duma committee for the financial market, said that the devaluating effect was getting weaker and consumer prices would drop. He compared the situation with the events in 2009-2010. Abramov predicts that inflation drop to 10% again. The ruble value is increasing because of growing oil prices, improvements in Ukraine. According to some evaluations, the oil price may hit $80 per barrel at the end of the year, allowing Russian currency to reach a value of 50 rubles per dollar, added Abra
