Russian Federation Central Bank Key Rate (Feb) 9.50% vs. Exp. 9.50% (Prev. 8.50%); if situation develops in-line with the baseline forecasts they hold open the prospect of further hikes in coming meetings
Inflation
- Policy stance is aimed at bringing inflation back to the target, notes inflation is developing appreciably above the CBR October forecasts.
- Balance of risks has further shifted towards proinflationary.
- Medium-term inflation is largely impacted by monetary policy.
Forecasts (2022)
- CPI: 5.0-6.0% (prev. 4.0-4.5%)
- Key Rate: 9.0-11.0% (prev. 7.3-8.3%)
- GDP: 2.0-3.0%) (Prev. 2.0-3.0%)
Reaction details (10:35)
- Limited reaction seen in the RUB on this policy announcement.
11 Feb 2022 - 10:30- Fixed IncomeData- Source: Reuters
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