In Russia, the Bank of Russia (CBR) will have to make the penultimate monetary policy decision of the year today and will be a key event for today, according to analysts at Danske Bank.
Key Quotes
“Inflation has started climbing on a low base effect and fuel price increases. At the same time, the approaching VAT hike and the surge in the RUB’s volatility have pushed up inflation expectations, which are closely monitored by the CBR. While we expect Russia’s key rate to remain unchanged at 7.50% today, there is a risk that the CBR could refer to surging inflation expectations and deliver a 25bp hike.”
Share
