Inflation not to exceed 1,5% in Russia in 2nd half of 2011
2011-05-26 11:18:53
The inflation rate will not exceed 1.5% in Russia in the second half of this year, President of the Central Bank of Russia (CBR) Sergei Ignatyev has made a forecast in his speech at the 20th International Banking Congress here on Thursday.
“In November 2010 we forecast an inflation rate at up to 6-7% in 2011. We did not change this forecast and are not going to do it,” Ignatyev said, noting that no unpleasant surprises, which could have affected the financial situation, took place since November 2010.
“I hope that from December to June 2011 the inflation rate will make less than 5.5% and less than 1.5% in case of a good harvest in the second half of the year,” the president of the Central Bank of Russia said.
He also noted about the CBR course for a tougher monetary policy to retain the inflation growth rate. Ignatyev also stated that any measures will be taken cautiously in order not to undermine the economic growth.