Bank of Russia Chairman: Inflation not the priority, expects 5-7% by 2023

2023-04-17 14:09:28

Elvira Nabiullina, chairman of the Bank of Russia, said that the regulator does not seek to drive inflation towards the target (4%) “at any cost.” According to the results of 2023, the Central Bank of the Russian Federation expects an indicator at the level of 5-7%.

“This year we expect inflation to be somewhere around 5-7%, but in the long term we strive for inflation to be at the level of 4% from 2024, and accordingly, this will affect rates in the economy,” she said. Mrs. Nabiullina at a meeting with the New People faction in the State Duma (quote from Interfax).

The inflation forecast for 2023 at the level of 5-7% (for 2024 – 4%) was given by the Bank of Russia at the beginning of the year and kept in March. At the same time, the regulator decided to keep the key rate at 7.5% per annum.

Actual comments of experts on the dynamics of price growth – in the material “Kommersant FM” “Inflation does not spoil forecasts.”

Grigory Leiba

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