The decision by the Russian central bank to hike its policy rate today by 100bp, to 19.00%, suggests that policymakers are even more concerned about the inflation outlook than we’d previously thought. While our forecast is that this will mark the last hike in the cycle, the risks to that view are clearly skewed towards higher rates.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.