Russia Central Bank says inflation is projected to be close to 3% by late 2017; going forward, as the temporary factors run their course, it will approach 4%

  • Inflation is projected to be close to 3% by late 2017; going forward, as the temporary factors run their course, it will approach 4%

  • Monetary conditions lay the groundwork for inflation holding close to 4% and not constraining economic growth

  • Key rate decisions will be based on its assessment on the balance of risks for inflation significantly and persistently deviating in either direction from the target

  • Medium-term risks of inflation overshooting the target dominate over the risks of its persistent downward deviation

  • Number of factors bear the risk of inflation deviating from the target both upwards and downwards

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