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Nabiullina Says Rate Hike More Likely Than Cut Later This Year

RUSSIA

Summary of comments from Bank of Russia Governor Nabiullina’s press conference:

  • Rate hike more likely than a rate cut later this year.
  • Slowdown in the world economy would involve a contraction of a demand of exports, which might entail additional pro-inflationary pressure.
  • Discussed hiking, keeping rate constant at this meeting.

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