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CBR Statement Highlights Peaking CPI, 2.5-3.5% Growth

RUSSIA
  • CPI: CPI expected to peak in Feb-March & decline from there on- baseline scenario assumes , given the current monetary policy stance, annual inflation will reach 3.7–4.2% in 2021 and remain close to 4% later on
  • If reduced domestic demand and supply-side proinflationary factors continue to exert their influence over the coming quarters, inflation might return to the Bank of Russia's target slower than expected
  • Growth: High-frequency indicators of economic activity suggest that the economic recovery in early 2021 is ongoing
  • GDP in 2022–2023 is set to grow 2.5–3.5% and 2.0–3.0% respectively- Accommodative monetary policy will continue to support the economy throughout 2021
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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