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Russian central bank still sees inflation returning to 4% in mid-2023 -agencies -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This view depicts the Central Bank Headquarters with its employees working in street repair and construction. It was taken in Moscow on September 11, 2015. REUTERS/Sergei Karpukhin

MOSCOW (Reuters – Russia’s central bank believes inflation will reach 4% by 2023. That was according to Deputy Governor Alexei Zabotkin. The statement came as Russian currency fell below 80 against the dollar due to geopolitical issues.

Expect a sharp decline in the ruble from the levels of 70 to the greenback just four months back to drive inflation. That would be a major concern for Russians and could lead to falling living standards.

Zabotkin indicated that although the central bank anticipates inflation of 5-6% by 2022, he also acknowledged uncertainty, as agencies reported.

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