Bank of Russia: Balance of Risks Shifted Towards Pro-Inflationary Factors
Quick Look
- Central Bank chief Elvira Nabiullina stated that the Bank of Russia estimates the balance of risks has shifted more towards pro-inflationary factors.
- While Middle East conflict risks have lessened, uncertainty remains regarding global economic implications, potentially affecting Russia via import prices and logistics.
AI-generated summary
Why It Matters
The Bank of Russia's Board held a meeting. Central Bank chief Elvira Nabiullina commented on the balance of risks concerning inflation.
MOSCOW, June 19. /TASS/. The Bank of Russia takes not in its estimates that the balance of risks had a stronger shift towards pro-inflationary ones, Central Bank chief Elvira Nabiullina said at the press conference after the Board meeting.
"According to our estimates, the balance [of risks] shifted more to pro-inflationary ones," she said.
Risks of conflict protraction in the Middle East became lower but the uncertainty is in place as regards the scale of its pro-inflationary implications for the global economy, Nabiullina noted. They may also influence the Russian economy through prices of imported goods and logistical expenses.
Open Questions
- What is the scale of pro-inflationary implications?
- How significant will the impact on Russian economy be?
