Sberbank improves forecasts for ruble’s rate vs US dlr in 2018–2020

MOSCOW, Feb 28 (PRIME) -- Russia’s top bank Sberbank has improved its forecasts for the ruble’s average annual exchange rate against the U.S. dollar for 2018–2020, as seen by PRIME on Wednesday in a presentation of the bank.

The bank improved the rate for 2018 to 58 rubles per U.S. dollar from 59 rubles, for 2019 to 58.5 rubles from 59.5 rubles, and for 2020 to 59 rubles from 60 rubles.

Sberbank also expects the central bank to cut its key rate to 6.75% in 2018 from the current level of 7.50%, and to reduce it further to 6.50% by 2020. The bank also sees Russia’s inflation close to 4% in 2018–2020.

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