April 29, 2019 / 9:55 AM / in a year

Russia central bank says inflationary expectations rise in April

FILE PHOTO: A view shows Russian rouble coins in this picture illustration taken October 26, 2018. Picture taken October 26, 2018. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - Russian households’ expectations for inflation rose in April to 9.4 percent from 9.1 percent in March, the central bank said on Monday.

Russia’s weakening rouble was in part responsible for the rise in inflationary expectations for the year ahead, the central bank said in a monthly report.

The central bank has said it could cut interest rates later this year as inflation peaked in March and is set to slow to the bank’s 4 percent target in the first half of 2020.

Reporting by Elena Fabrichnaya; Writing Gabrielle Tétrault-Farber; Editing by Andrey Ostroukh

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