Chairwoman: Cbank to cut Russia’s 2017 inflation forecast to 3.2%

MOSCOW, Oct 12 (PRIME) -- The central bank has reduced its 2017 inflation forecast to 3.2% from 3.5–3.8%, and will officially adjust it soon, Central Bank Chairwoman Elvira Nabiullina said in a news conference on Thursday.

“Actually, inflation in annual terms has fallen below 3% now, we think that this is absolutely normal and that this does not represent digression from the goal (of 4% by the end of 2017)…We will also cut our inflation forecast for the end of the year, we will adjust the forecast very soon, and inflation will most likely amount to about 3.2%,” she said.

September inflation fell to 3% thanks to the central bank’s monetary policy and one-time positive factors like a strong ruble and a good harvest, she said.

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