CBR has high inflationary expectations – Yudayeva

MOSCOW. Nov 14 (Interfax) – The Central Bank of Russia (CBR) acknowledges that it has very high inflationary expectations, the bank’s first deputy chief, Ksenia Yudayeva, said during a session of the State Duma committee for economic policy, innovative development, and entrepreneurship on Thursday.

“Only just today I had a meeting on this subject. We have quantitative parameters of inflationary expectations that signal inflation of about 11%-12%, she said. The CBR, in making decisions about interest rates, looks closely at the level of inflationary expectations.

“In these conditions, the use of our instruments mainly influences inflation, and not economic growth,” Yudayeva said.

The CBR inflation target for this year is 5%-6%.

Yudayeva has said that the risk of inflation topping 6% in 2013 has increased.