The bank also sharply cut its forecast for 2015 inflation, now expecting consumer prices to stagnate this year rather than increasing an average 0.9% as projected in December. The MNB now forecasts 2016 inflation to average 2.6% annually, closing up to the Bankʼs 3% midterm target more gradually than earlier thought, but within the freshly designated +/-1 percentage point tolerance bracket. For 2016, annual average inflation was forecast at 2.9% in December.
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