The sharp increase in Russian inflation in May means that interest rates are likely to be left on hold when Russian central bankers meet next week. However, inflation continues to be driven by food prices, while core pressures remain subdued. As such, we think inflation is still on course to ease over the coming months, clearing the way for interest rate cuts later in the year.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.