November 20, 2018 / 10:46 AM / a month ago

Russia's central bank sees year-end inflation close to target of 4 percent

A view shows the Russia's Central Bank headquarters in Moscow, Russia February 22, 2018. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Russia’s central bank expects year-end inflation to be around its target of 4 percent, but the balance of risks may still change ahead of its key rate meeting on Dec. 14, the head of the bank’s research department said on Tuesday.

Alexander Morozov said the bank may halt foreign exchange purchases again in 2019 if there are risks to financial stability. The purchases have been on hold since August due to market volatility, and the central bank is due decide next month when and how to resume purchases.

Reporting by Elena Fabrichnaya; Writing by Tom Balmforth; Editing by Peter Graff

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