Bancos centrales

• Says C.Bank does not see strong impact from rouble rate on inflation

• C.Bank to review its short-term oil price forecast in june

• There is only marginal impact from roulbe weakness in april on inflation

• Forecasts industrial output at 1.3-1.8 pct in april, y/y

• Q2 gdp growth to slow to 1-1.4 pct, y/y, due to high base effect in 2017

The Central Bank of Russia (CBR) kept its interest rate unchanged at 11.0% on Friday. The central bank noted that inflation risks remained elevated.

"The Board of Directors sees the positive processes of inflation slowdown and inflation expectations decline, as well as shifts in the economy which anticipate the beginning of its recovery growth," the CBR said.

The central bank pointed out that risks to inflation were "declining inflation expectations against the target, uncertainty in parameters of the national budget, and ambiguity of the observed movements in nominal wages".

The CBR expects inflation to be about 5% in April 2017 and 4% in late 2017, while the quarterly GDP was expected to be positive in the second half of the year or in early 2017.

"Should inflation risks fall as much as to ensure with greater certainty that the Bank of Russia achieves its inflation target, the Bank of Russia will resume a gradual lowering of its key rate at one of its forthcoming Board meetings," the CBR said.

The next meeting of the CBR is scheduled to be June 10, 2016.

The Central Bank of Russia (CBR) kept its interest rate unchanged at 11.0% on Friday. The central bank noted that inflation risks remained high.

"Despite certain stabilisation in financial and commodity markets and a slowdown in inflation, inflation risks remain high. These stem from the current developments in the oil market, persistently high inflation expectations and some uncertainties surrounding budget configuration," the CBR said.

The central bank pointed out that it will need more time to tighten its monetary policy.

The CBR expects inflation to be less than 6% in March 2017 and 4% in late 2017, while the economy is expected to contract 1.3%-1.5% in 2016.

"It is expected that quarterly GDP growth rates will enter positive territory between late 2016 and early 2017," the CBR said.

The next meeting of the CBR is scheduled to be April 29, 2016.

The Central Bank of Russia (CBR) kept its interest rate unchanged at 11.0% on Friday. This decision was expected by analysts.

The central bank noted that monthly consumer inflation stabilised at high levels due to a further drop in oil prices.

Risks to price stability escalating since the last meeting, the CBR said.

"The deterioration in the global commodity markets will require a further adjustment of the Russian economy," the CBR said.

"The key rate decision has been made in recognition of the current economic situation, with elevated risks of continued recession provoked by falling oil prices," the central bank added.

The central bank expects the consumer price inflation to be below 7% as early as January 2017, and 4% by late 2017.

The central bank cut its interest rate five times in 2015.

The next meeting of the CBR is scheduled to be March 18, 2016.

The Central Bank of Russia (CBR) kept its interest rate unchanged at 11.0% on Friday. This decision was expected by analysts.

The central bank noted that inflation risks increased, while risks of the slowdown in the economy remained.

"As inflation slows down in line with the forecast and on condition inflation risks recede, the Bank of Russia will continue with a downward revision of its key rate, to be decided at one of its forthcoming Board of Directors meetings," the CBR said.

The central bank expects the consumer price inflation to be about 6% in late 2016, and 4% in 2017.

"The external trade restrictions imposed against Turkey from January 2016 will not have a significant impact on consumer prices. These restrictions are estimated to add about 0.2-0.4 pp to inflation till the end of 2015 and in early 2016," the central bank pointed out.

Risks to inflation are low oil prices, monetary policy normalisation by major central banks and further slowdown in the Chinese economy, according to the CBR.

The central bank cut its interest rate five times in 2015.

The next meeting of the CBR is scheduled to be January 29, 2016.

The Central Bank of Russia (CBR) kept its interest rate unchanged at 11.0% on Friday. This decision was not expected by analysts. Analysts had expected the interest rate cut.

But the central bank noted that it is ready to lower its interest rate further.

"As inflation slows down in line with the forecast, the Bank of Russia will continue with a downward revision of its key rate, at one of its forthcoming Board of Directors meetings. In making its rate decisions, the Bank of Russia will be guided by changes in the balance between inflation risks and the risks of economy cooling," the CBR said.

The central bank cut its interest rate five times in 2015.

The Central Bank of Russia (CBR) kept its interest rate unchanged at 11.0% on Friday. This decision was widely expected by analysts.

This decision was driven by risks of higher inflation and an economic slowdown.

"August saw a serious deterioration in foreign economic conditions. Inflation and inflation expectations were showing a clear upward trend, impacted by the exchange rate dynamics. The depreciated ruble will continue to put pressure on prices in the next few months," the CBR said.

The central bank cut its interest rate five times in 2015.

The central bank noted that further interest rate decisions will depend on the risks of inflation and a slowdown in the economy.

The Central Bank of Russia (CBR) lowered its key interest rate to 11.5% from 12.5% on Monday. This decision was widely expected by analysts.

This decision indicates that inflationary pressure in Russia was weakening.

It was the fourth cut in 2015.

The central bank noted that it was ready for further interest rate cut.

The Central Bank of Russia (CBR) lowered its key interest rate from 14% to 12.5% on Thursday. This decision indicates that inflation in Russia is under control.

It was the third cut in 2015.

"Amid ruble appreciation and significant contraction in consumer demand in February-April 2015, monthly consumer price growth declines and annual inflation tends to stabilise," the central bank said.

Russia's central cut its interest rate on Friday. The Central Bank of Russia (CBR) lowered the key rate by 1% to 14%. It was the second rate cut as the central bank lowered its interest rate to 15% from 17% at the end of January. This measure should boost the Russian economy.

The country's economy is hit by sanctions and the sharp drop in oil prices.

The Russian ruble strengthened against the U.S. dollar following the decision.

Russia's economy faces high inflation on the one side and a slowdown of growth on the other side.