Inflation Outlook Brightens

In a recent announcement, Russian Central Bank Governor Elvira Nabiullina shared optimistic projections for the country's inflation rates. According to Nabiullina, a significant decrease in inflation is anticipated to begin in May, marking a pivotal shift in the economic landscape.

Steady Interest Rates Amidst Economic Adjustments

The announcement came after the bank decided to maintain its key interest rate at 21%. Despite the high rate, Nabiullina emphasized the subsiding of inflationary pressures, though she advised maintaining a cautious stance towards future economic policies.

Anticipated Challenges Ahead

"We have surpassed the peak in the fourth quarter... However, the transition to a decline in annual inflation is expected in May," Nabiullina explained. She also warned of a potential temporary increase in inflation rates come July, underscoring the unpredictable nature of economic recovery.