Business & Finance
Russia's GDP to return to pre-crisis levels by end-2021
- Monetary policy, which is currently soft with the key rate at a historic low of 4.25%, would become neutral as soon as the economy returns to its potential.
- He added that inflationary expectations had not anchored yet. The central bank has said it expects inflation to peak at around 5.5% in February-March, above the 4% target.
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MOSCOW: The Russian central bank sees gross domestic product (GDP) returning to pre-crisis levels by the end of 2021 and reaching its potential over the next three years, Deputy Governor Alexei Zabotkin said on Thursday.
Monetary policy, which is currently soft with the key rate at a historic low of 4.25%, would become neutral as soon as the economy returns to its potential, Zabotkin said.
He added that inflationary expectations had not anchored yet. The central bank has said it expects inflation to peak at around 5.5% in February-March, above the 4% target.