March 13, 2020 / 9:37 AM / a month ago

Russian central bank says rouble drop poses significant inflation risk

MOSCOW, March 13 (Reuters) - The rouble’s drop to four-year lows following the coronavirus outbreak and a slump in oil prices, poses significant but short-term upside risks for inflation, the central bank said on Friday, one week before its rate-setting meeting.

The central bank said annual inflation, which was at 2.3% in February, is now on track to accelerate towards its 4% target more quickly than it had previously expected. (Reporting by Andrey Ostroukh; Editing by Catherine Evans)

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