The rise in Russian inflation, to 2.4% y/y, last month confirms that the headline rate has passed its trough and we expect it to drift up over the rest of the year as food inflation strengthens. But with headline inflation set to remain below target, the central bank’s easing cycle still has much further to run. The next move is likely to be a 25bp cut (to 7.00%) at the meeting on 27th April.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services