12 Apr 2011 13:51

IMF recommends further monetary tightening in Russia

MOSCOW. April 12 (Interfax) - The International Monetary Fund (IMF) is recommending further monetary tightening by the Central Bank if Russia in order to achieve a targeted 6%-7% inflation in 2011.

Inflation remains high at 9.5%, despite slowing recently, and core inflation has even accelerated, the IMF's Russia representative, Odd Per Brekk, told a press conference at the Interfax central office.

This causes concerns that inflationary expectations are strengthening, Brekk said.