The reasonably small rise in Russian inflation, from 5.0% y/y in January to 5.2% y/y in February, is likely to offer further reassurance to the central bank that a recent VAT hike hasn’t fed into a sharp rise in consumer prices. We think that the next move in interest rates will be down.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.