Russian Central Bank still expects inflation to be back on target in Q4
ST. PETERSBURG. June 20 (Interfax) - The Central Bank of Russia still expects annualized inflation to revert to its target band of 5%-6% in the fourth quarter of 2013, CB First Deputy Chairman Alexei Ulyukayev told reporters on the sidelines of the St Petersburg Economic Forum.
"We expect to be in the target [band] of not more than 6% in Q4," Ulyukayev said.
Ulyukayev said this was one of the justifications for easing monetary policy. "And it is one of the grounds for thinking that way [of lowering interest rates]," he said.
Ulyukayev said there were quite a few other circumstances that affect monetary-policy decision-making.
"I'm talking in general about the situation, about out approach to it. We won't be discussing any concrete positions on the refinancing rate right now. This calls for a separate discussion in the framework of the Central Bank," he said.
Ulyukayev said he thought inflation might fall to 7% in annual terms at the beginning of July.
