Russia's Oreshkin says central bank's new 2019 inflation forecast too high

FILE PHOTO: Russia's Economy Minister Maxim Oreshkin attends a session during the Week of Russian Business, organised by the Russian Union of Industrialists and Entrepreneurs (RSPP) in Moscow, Russia March 14, 2019. REUTERS/Maxim Shemetov - Copyright MAXIM SHEMETOV(Reuters)

By Reuters

Published on 15/06/2019 - 17:34•Updated 24/04/2024 - 14:30

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MOSCOW (Reuters) - Russian Economy Minister Maxim Oreshkin was cited by news agencies as saying on Saturday that the central bank's new inflation forecast of 4.2%-4.7% for 2019 seems too high.

The central bank on Friday lowered its inflation forecast for this year from a previous range of 4.7%-5.2%, while cutting its main interest rate to 7.50% from 7.75%.