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The Central Bank believes that the rise in prices due to the weak ruble has stopped
The Central Bank believes that the acceleration of price increases due to the weakening ruble in Russia has stopped. According to the head of the regulator, Elvira Nabiullina, near-zero inflation has been observed in the country over the past week. And over the past two weeks, annual inflation has only slightly exceeded 3%.
As the TASS, annual inflation will peak in summer. According to Nabiullina, there is now a restoration of interest in the shares of the Bank of Russia and bonds of foreign participants, and the volatility of the exchange rate is approaching normal values. This, among other factors, indicates a reduction in the risks of financial stability.
At the end of April, the Bank of Russia lowered its key rate to 5,5% per annum. According to the forecast, taking into account the current monetary policy annual inflation will be 3,8–4,8% according to the results of 2020 and will stabilize at around 4% in the future.