Russian central bank says medium-term inflation risks remain high

MOSCOW (Reuters) – Russia’s annual inflation may have peaked in July, the central bank said on Tuesday, but medium-term inflationary risks remain high and it is too early to speak about a steady reduction in inflation pressure.

The central bank is expected to raise its key interest rate by 100 basis points to 19% at its meeting on Sept. 13 to combat high inflation, a Reuters poll of analysts showed on Monday.