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The Russian central bank did not change the interest rates on Friday. He expects that inflation will accelerate in the future for the planned increase in value added tax (VAT).
The Board of the Central Bank of Russia retained key interests at the level of 7.25%. The central bank reduced its key rate by 25 basis points in March and February
"The balance of risks is oriented towards pro-inflationary risks," said the central bank. factors. "
The central bank expects the year-over-year consumer price rate to rise 3.5% to 4% by the end of 2018. Inflation should to temporarily reach more than 4% in 2019 due to the expected GDP growth. "The annual growth rate of consumer prices will return to 4% in early 2020."
The Russian economy, according to the current forecasts, will grow from 1.5% to 2% this year
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