20 August 2003 23:47
CB leaves inflation forecast of 12% unaltered
MOSCOW. Aug 21 (Interfax) - The Central Bank of Russia, content with the economy's performance so far, is
sticking by its 2003 inflationary target of 12%.
Consumer prices grew 8.7% in January-July, compared with 9.8% in the same period of last year, Sergei Ignatiyev, the
CB's chairman, told reporters. "So far things are going well," Ignatiev commented. "Inflation is
coming down little by little," he said.
Nor does the CB feel the need to adjust its exchange rate forecast. The bank is not expecting the ruble to strengthen
by more than 6% in real terms this year, after growing about 4% in 2002. [RU ASIA EUROPE EEU EMRG RESF ECI BNK] PR
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