October 6, 2017 / 2:35 PM / in a year

Russia c.bank still sees upside risks for inflation

MOSCOW, Oct 6 (Reuters) - The Russian central bank sees upside risks for inflation even though its reading has already slipped below a 4 percent target, the head of monetary policy at the central bank said on Friday.

“Inflation risks in general are skewed higher,” Igor Dmitriev said. “We will understand to what extent our policy is adequate in terms of reaching its target in three to four quarters.”

Dmitriev’s comments came after Finance Minister Anton Siluanov said the central bank should have should have cut interest rates quicker this year as inflation has been slowing more than expected.

The central bank, which last cut its key rate to 8.5 percent in September, is due to hold its next rate-setting meeting in late October. (Reporting by Elena Fabrichnaya; Writing by Andrey Ostroukh; Editing by Jack Stubbs)

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