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CBR Cites Need to Return to Neutral Rate

RUSSIA
  • BANK OF RUSSIA WILL WEIGH RETURN TO NEUTRAL POLICY
  • RATE HIKE POSSIBLE AT ONE OF NEXT MEETINGS
  • INFLATION 5.8% AS MARCH 15
  • HOLDS OPEN THE PROSPECT OF FURTHER INCREASES
  • BALANCE OF RISKS NOW PRO-INFLATIONARY
  • MEDIUM-TERM INFLATION IMPACTED BY FISCAL POLICY
  • SEES RETURN TO 4% TARGET CPI IN 1H 2022
  • DISINFLATIONARY RISKS RECEEDED IN BASE SCENARIO-
  • INFLATION TO PEAK IN MARCH
  • SEES NEED TO RETURN TO NEUTRAL MONETARY POLICY
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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