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CBR Says Rate Hike Possible at One Of Its Next Meetings, Makes Hawkish Revisions

RUSSIA
  • BANK OF RUSSIA: RATE HIKE POSSIBLE AT ONE OF NEXT MEETINGS
  • INFLATION 8.8% AS OF FEB. 4
  • SEES 2022 AVG KEY RATE 9%-11%, SAW 7.3%-8.3%
  • INFLATION APPRECIABLY ABOVE OCT. FORECAST
  • SEES END-2022 INFLATION 5%-6%, SAW 4%-4.5%
  • SEES 2022 GDP GROWTH 2%-3%, SAW 2%-3%
  • SEES 2023 AVG KEY RATE 7.5%-9%, SAW 5.5%-6.5%
  • SEES END-2023 INFLATION 4%; SAW 4%
  • CPI TO RETURN TO TARGET IN MID-2023
  • BANK OF RUSSIA SEES 2022 CURRENT ACCOUNT SURP. $133B; SAW $111B
  • BANK OF RUSSIA: GROWING LABOR SHORTAGE LIMIT INDUSTRY OUTPUT
  • BANK OF RUSSIA: MONETARY CONDITIONS CHANGED TO NEUTRAL
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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