November 14, 2019 / 11:02 AM / a month ago

Russia's inflation seen closer to 3.2% by year-end - cenbank

MOSCOW, Nov 14 (Reuters) - Annual inflation in Russia is likely to finish this year closer to the lower boundary of the 3.2-3.7% range, the central bank said on Thursday.

The central bank, which aims at keeping inflation near its 4% target, also said inflation was seen temporarily slowing below 3% in year-on-year terms in 2020.

The central bank has cut its key interest rate four times so far this year and is widely expected to lower it further from the current level of 6.5%. The next rate-setting meeting is due on Dec. 13. (Reporting by Elena Fabrichnaya Writing by Andrey Ostroukh Editing by Andrew Heavens)

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