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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
RUSSIA
- CBR Governor Elvira Nabiullina said in a TV interview this morning that inflation in Russia has accelerated 'markedly', and therefore more rate increases may be necessary to curb the inflationary pressures in the coming months.
- Nabiullina is considering 25bps to 1 ppt increase in benchmark rate, which would bring the benchmark rate up to 6.5%.
- As a reminder, the CBR has been one of the first central banks to rise interest rates in 2021 among the EM world (major economies) as the weak RUB has been increasing the inflation risk (see chart below).
- Russia CPI inflation came in at 6% in May, diverging significantly from CBR 4-percent target.
- CBR long-term forecast for oil prices stands at $50-$55 per barrel.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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