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CBR Likely to be Cautious after Upside CPI & PPI Prints

RUSSIA
  • CBR more likely to err on the side of caution and hold at tomorrow's meeting
  • Follows an upside surprise in weekly CPI & PPI yesterday
  • food price inflation, loan growth and FX passthrough have resulted in a short-term spike expected to peak in Feb 2021 at 4.9%.
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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