Russia Gets Its Wish at Last as Inflation Set for Record Low
- Price growth eased to post-Soviet record of 5.6%, survey shows
- Central bank has kept policy ‘moderately tight’ to reach goal
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Bank of Russia Governor Elvira Nabiullina is getting better at keeping her word.
After sticking with an unprecedented pledge to hold interest rates this quarter, policy makers are on track to meet their price-growth forecast for the first time since 2011 by pushing inflation to the lowest year-end level in modern Russian history. While economists have brought their forecasts closer to the central bank’s 4 percent goal for next year, they still project it above target, and household expectations remain high.