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Erdogan Maintains Unchanged Stance On S-400s

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Nabiullina Presser:

  • CBR must take active measures to keep prices stable
  • Inflation is worrying us more and more
  • Demand inflation exceeding supply side factors
  • banks yet to pass through rite hikes to deposit rates, policy still very accommodative 2021 inflation to be above April forecast
  • balance of risks to inflation have shifted towards even more proinflationary ones, disinflationary factors have diminished further
  • inflation to return to near 4% target by 2h22