India, April 26 -- Russia's central bank left its key interest rates unchanged for the third consecutive meeting on Friday but cautioned about upside risks to inflation.
The board of directors of the Bank of Russia, headed by Governor Elvira Nabiullina, decided to hold the key rate at 16.00 percent.
As domestic demand outstrips the capabilities to expand supply, inflation will return to the target somewhat more slowly than the central bank forecast in February, the bank said.
The bank added that the tight monetary conditions will be maintained in the economy for a longer period than previously forecast.
The central bank upgraded its inflation outlook for 2024 to 4.3 percent-4.8 percent from 4.0-4.5 percent. Inflation is forecast to retu...