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Russian inflation to peak in Feb - cenbank analysts

MOSCOW, Feb 1 (Reuters) - Consumer inflation in Russia, which is on the rise as it still feels the impact of the 2020 rouble weakening, is likely to peak in February and slow from March, central bank analysts said on Monday.

Inflation stood at 5.3% as of Jan. 25, above the bank’s 4% target, central bank analysts said.

The bank’s next rate-setting meeting is on Feb. 12.

The central bank slashed its key interest rate to a record low of 4.25% in 2020 to limit the economic contraction amid the COVID-19 crisis and low oil prices. Higher inflation limits room for further cuts. (Reporting by Andrey Ostroukh; Editing by Susan Fenton)

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