Stock market quotes, forex, financial news, forex tools –

Nabiullina: the forecast of the inflation has been amounted to 5.5-6% as a result of the current year

 Breaking News
  • Trump and Xi Jinping came to an agreement! According to the reports from Xinhua, US President Trump and China’s President Xi Jinping have agreed on additional tariffs from the United States. During the G-20 summit in Argentina, the...
  • Qatar leaves OPEC on 1, January Next year Qatar will leave OPEC. The Minister of Energy of the Middle Eastern state said that the country was not going to fulfill any obligations when the clock chimed...
  • Brent rose by 5% to $ 62.5 On Monday, the price of the major benchmark crudes is growing due to the news from the main supplier countries. February contracts of Brent have risen by 5% to $...
  • Fiat invests in the national auto industry An automaker Fiat is going to invest 5 billion Euros in the improvement of the production in Italy. It is planned to absorb investments in the next four years. The...
  • General Motors will cut staff and close several plants An auto giant General Motors is going to cut about 15% of its employees and a quarter of the management team. These changes apply only to the United States. Thus,...

Nabiullina: the forecast of the inflation has been amounted to 5.5-6% as a result of the current year

Nabiullina: the forecast of the inflation has been amounted to 5.5-6% as a result of the current year
September 16
16:00 2016

Elvira Nabiullina, Chairman of the Central Bank of the Russian Federation, said that the regulator was expecting the inflation rate of about 5.5-6% by the end of the year.

In particular, she said: “We have specified our forecast regarding the inflation at the end of this year to 5.5-6%. Currently, the inflation has slowed down to 6.6% based on the weekly data of the early September. ” Nabiullina said that a year ago the Central Bank had made a forecast of the annual rate of growth of consumer prices within  7% in September the current year.

According to Nabiullina, the indicators of basic and trend inflation have fallen. This year good harvest is slowing the pace of growth of consumer prices, but it is considered as a temporary phenomenon in the regulator’s forecasts. In addition, the Central Bank said that we could observe a good situation at global markets and a stronger than expected ruble.

“At the same time the inflation has not fallen below the expected level, which can be a sign that the restraining effect of long-acting factors is being weakening primarily from the side of the consumer demand,” – said Nabiullina.

“In order to let the inflation steadily decline to 4% at the end of 2017, monetary conditions in the economy should be moderately hard. For this purpose, we need to preserve the key rate at the level of 10% at least until early next year. We will consider the possibility of its reduction not earlier than the first- second quarter of 2017 “, – said the chairman of the Central Bank. She also noted that that decision was based on the new macroeconomic forecast.

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment