Cbank keeps key rate at 7.25%, sees CPI above 4% for short term 2019 - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Cbank keeps key rate at 7.25%, sees CPI above 4% for short term 2019

MOSCOW, Jul 27 (PRIME) -- The Russian central bank has retained the key rate at 7.25% over fears that the consumer price inflation can overshoot its inflation target of 4% in 2019, the authority said in a statement on Friday.

УThe risk balance is skewed towards inflation. Uncertainty concerning the degree of influence of the tax measures on inflation expectations, and uncertainty over the future of the external conditions for Russia have remained,Ф the central bank said.

The central bank said it forecasts inflation to rise to 3.5Ц4.0% at the end of 2018 from 2.3% in June and 2.5Ц2.6% expected in July. A further short-term rise of inflation in 2019 can be caused by an increase of value-added tax (VAT), which will stimulate price rise but inflation will return to 4% at the end of 2019.

Economic growth was stronger than expected in 2017 and early 2018. The FIFA World Cup 2018 in JuneЦJuly added 0.1Ц0.2 percentage points to the gross domestic product (GDPТs) annual rise in AprilЦJune.

The GDP is to increase 1.5Ц2.0% in 2018.


27.07.2018 13:57
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 74.9022 -0.6336 17 nov
USD 65.9931 -0.6228 17 nov
Stock Market Indices
1D 1W 1M 1Y
rtsi 1134.93 +0.34 18:50 16 nov
micex 2372.67 -0.37 18:50 16 nov
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 153.16 -0.64 18:49 16 nov
lkoh 4824.00 -0.62 18:49 16 nov
rosn 420.85 -0.80 18:49 16 nov
sber 199.26 -0.44 18:49 16 nov
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 74.9025 -0.2975 14:59 16 nov
USDTD 65.7225 -0.8775 17:44 16 nov