May 8, 2020 / 12:14 PM / 19 days ago

Russian central bank says economy to shrink by up to 8% in Q2

MOSCOW, May 8 (Reuters) - Russia’s economy could shrink by as much as 8% in the second quarter, Central Bank Governor Elvira Nabiullina said on Friday, with efforts to contain the coronavirus outbreak stifling spending and businesses.

Nabiullina also said inflationary expectations increased in late April, as had the share of foreign investors buying Russia’s OFZ treasury bonds.

Reporting by Andrey Ostroukh and Elena Fabrichnaya, Writing by Alexander Marrow, Editing by Mark Heinrich

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