MOSCOW (Reuters) – The Bank of Russia will consider still subdued inflationary pressure and households’ inflation expectations when making its next decision on interest rates in December, Deputy Governor Alexei Zabotkin said on Tuesday.
Zabotkin told reporters that weekly inflation data in November was suggesting muted inflationary pressure. When holding rates last month, the central bank said Russia’s partial mobilisation for its military campaign in Ukraine may initially create disinflationary pressure due to reduced consumer demand.
The next rate-setting meeting is due on Dec. 16.
(Reporting by Elena Fabrichnaya; Writing by Alexander Marrow)
