Inflation Outlook Brightens for Russia

In a recent announcement that brings a glimmer of hope to the Russian economy, Central Bank Governor Elvira Nabiullina projected a decrease in inflation starting May. This comes as the bank maintains its key interest rate at a steady 21%, signaling a cautious yet optimistic stance towards the future.

Turning Point in Sight

Nabiullina emphasized that the peak of inflationary pressures was surpassed in the fourth quarter. "The transition to a decline in annual inflation is anticipated in May," she stated, while also warning of a potential temporary increase in July. This nuanced outlook underscores the bank's careful approach to navigating the country's economic challenges.