The further decline in Russia’s headline inflation rate to 15.9% y/y in June confirms that inflation has already passed its peak and we expect price pressures to ease further over the coming months. This is likely to prompt the central bank to cut interest rates by another 100bp, to 8.50%, later this month although the scope for further aggressive easing is limited.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.