March 23, 2018 / 12:48 PM / 4 months ago

Russian central bank: Inflation to come back closer to 4 pct target

MOSCOW, March 23 (Reuters) - Russian inflation may hover around 2 percent in the second quarter of this year but is not expected to stay that low in the longer term, Elvira Nabiullina, the central bank’s governor, told reporters on Friday.

Nabiullina said she expected inflation to move closer to the bank’s target of 4 percent. If for some reason it got stuck at around 2 percent, the central bank would take steps to bring it nearer to the target, she said.

She did not rule out switching from a “neutral” to a “soft” monetary policy in order to get inflation to the desired level. (Reporting by Andrey Ostroukh and Jack Stubbs Writing by Christian Lowe Editing by Andrew Osborn)

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