Review of recent inflation developments in Russia and economic outlook
Today, we have decided to keep the key rate at 4.25% per annum. The economy is bouncing back rather steadily. I would like to remind you that at our previous meeting we expected economic revival to pause at the end of 2020. However, GDP statistics and high-frequency indicators evidence that this did not happen. Moreover, inflation also exceeds our expectations. I will further on dwell on the factors, which we were taking into account when making our decision today. I will start out with the situation in the economy. It has turned out to be better than … Read more