Russian central bank not expecting double-digit rates, says Nabiullina

1 min read
FILE PHOTO: Russian Central Bank Governor Nabiullina attends a news conference in Moscow

MOSCOW – Russia’s central bank does not expect its interest rates to reach double-digit levels, Governor Elvira Nabiullina said on Thursday, ahead of a Dec. 17 rate-setting meeting at which the bank is widely expected to raise rates from 7.5%.

In an interview at the Reuters Next conference, Nabiullina said the central bank was not considering raising the inflation target from 4%, preferring consistency in its inflation-targeting regime.

To watch the Reuters Next conference please register here

(Reporting by Katya Golubkova; Writing by Alexander Marrow and Andrey Ostroukh; Editing by Catherine Evans)