Russian central bank says medium-term inflation risks remain high
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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) - Russia's annual inflation may have peaked in July, the central bank said on Tuesday, but medium-term inflationary risks remain high and it is too early to speak about a steady reduction in inflation pressure.
The central bank is expected to raise its key interest rate by 100 basis points to 19% at its meeting on Sept. 13 to combat high inflation, a Reuters poll of analysts showed on Monday.
(Reporting by Elena Fabrichnaya and Alexander Marrow; editing by Jason Neely)
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