The rise in Russian inflation to 7.7% y/y in February highlights that price pressures in the economy remain strong and we think inflation is likely to increase further in the coming months. We doubt these figures are strong enough to prompt another interest rate hike from the central bank. The more likely scenario at this stage is that interest rates remain on hold at 16.00% for most of this 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.