off-the-wire

Russian central bank sees inflation risks rising in 2023

Kitco Media
By Reuters
Published:
Updated:
Reuters



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This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine


MOSCOW, Jan 31 (Reuters) - Russia's central bank on Tuesday said inflation risks were set to rise in 2023, mainly coming from the labour market, budget and balance of payments. The Bank of Russia is widely expected to keep its key interest rate on hold at 7.5% at its first meeting of the year next week, with inflation gradually slowing but still well above the 4% target. Households' inflationary expectations in January stood at 11.6%.
(Reporting by Elena Fabrichnaya and Alexander Marrow; Editing by Mark Trevelyan)

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