Central Bank maintains forecast for inflation to fall to 6% by end-2014

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Central Bank maintains forecast for inflation to fall to 6% by end-2014 - Nabiullina

MOSCOW. June 16 (Interfax) - Russia's Central Bank is maintaining its forecast for inflation to fall to 6% by the end of 2014, Central Bank head Elvira Nabiullina said at a press conference on Monday.

She added that there were still risks with inflation exceeding 6%.

"According to the forecast, the pace of consumer price growth will slow by the end of 2014 to 6%, which is above the targeted 5%, and the risk of 6% inflation being exceeded is high," she said.

But the factors responsible for accelerating inflation will be exhausted in 2015-2016. "In the absence of new shocks, the tightening of monetary policy that took place in March and April will bring inflation down to the targeted level in the medium term," Nabiullina said.