Russian Central Bank forecasts

RUSSIA / FSU POLITICS - In Brief 17 Dec 2018 by Alex Teddy
The Russian Central Bank (CBR) stated that inflation is 3.9% which is just below the target of 4%. The CBR has forecast that inflation will rise to at least 5% in the first half of 2019. The VAT increase and the decline of the RUR will contribute to this. Oil prices are down a little and the CBR will need to buy over USD 201 million a day which is less than in 2018. The fiscal rule is this can only be bought with revenue from oil at over USD 40 per barrel.

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