Analysts polled by Russian central bank forecast 7.3% year-end inflation
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FILE PHOTO: A Russian state flag flies over the Central Bank headquarters in Moscow, Russia, August 15, 2023. A sign reads: "Bank of Russia". REUTERS/Shamil Zhumatov/File Photo
MOSCOW (Reuters) - Analysts polled by Russia's central bank expect year-end inflation at 7.3%, the bank said on Wednesday, well above the 4% target and just shy of the 7.4% reading for 2023.
Soaring inflation has forced the central bank, which will hold a rate-setting meeting on Sept. 13, to hike its key interest rate to 18%.
The analysts forecast the average key rate for September-December at 19%, the bank said, suggesting another hike will come before the year is out.
(Reporting by Elena Fabrichnaya; Writing by Alexander Marrow; Editing by Alex Richardson)
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