Friday, June 28
Justifying the 6% rate,
Thursday, July 23, 2020
![Justifying the 6% rate,](https://ubn.news/wp-content/uploads/2020/07/screen-shot-2020-07-24-at-1.34.56-am-3.png)
![Justifying the 6% rate,](https://ubn.news/wp-content/uploads/2020/07/screen-shot-2020-07-24-at-1.34.56-am-3.png)
Justifying the 6% rate, the central bank predicts inflation is growing again and will hit 4.7% at the end of this year. It says inflation will be driven by higher energy prices and “soft monetary and fiscal policies that will mitigate the negative effects of COVID-19 and support consumer demand and business activity.” Later deputy bank governor Dmitry Sologub told reporters: “If we see that inflation is in the target range, we do not see a significant expansion of the fiscal deficit, and we also see continued cooperation with donors, then I do not rule out a decrease in the interest rate.”