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Russian c.bank governor sees economic growth below 1 pct in 2014
April 2, 2014 / 7:46 AM / 4 years ago

Russian c.bank governor sees economic growth below 1 pct in 2014

MOSCOW, April 2 (Reuters) - Russia’s central bank said on Wednesday economic growth would “most probably” fall below 1 percent in 2014 and that net capital outflows would be significantly higher than was previously expected.

Governor Elvira Nabiullina told a Moscow banking conference the bank did not plan to cut its key lending rate from 7 percent until its June meeting at the earliest, still concerned by high inflation, which could stay above 5 percent this year.

She said the bank intended to stick to the current exchange rate policy parameters due to high uncertainty, but would continue its transition to a flexible rouble after the situation stabilises. (Reporting by Oksana Kobzeva, writing by Jason Bush, editing by Elizabeth Piper)

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