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CBR Alludes To Potential Hikes in the Pipeline, But Sees CPI Slowdown Ahead

RUSSIA
  • Most likely policy isn't tight enough to reach the 4% target in 2022
  • CBR keeps open the option for further hikes in 2022
  • Balance monetary policy is better than aggressive hikes
  • Several hikes now are less probable than in October
  • 2021 inflation seen at around 8%
  • Today considered 50bps-100bps hikes
  • We expect a sustainabile CPI slowdown in early 2022
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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