October 11, 2017 / 3:03 PM / a year ago

Russian cenbank says 2017 inflation seen below 3.5-3.8 pct

MOSCOW, Oct 11 (Reuters) - The Russian central bank said on Wednesday full-year inflation is seen below a previous forecast of 3.5-3.8 percent in 2017.

In a monthly report on consumer prices, the central bank said Russia’s current inflation level will lead to lower inflation expectations.

The central bank, which for years struggled to rein in stubbornly high inflation and bring it down to its 4 percent target, is widely expected to further cut its key rate from 8.5 percent by the end of the year as inflation slows more than expected. (Reporting by Andrey Ostroukh; Editing by Jack Stubbs)

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