The recent rebound in the ruble has led the market to price in interest rate cuts by the Central Bank of Russia (CBR) over the coming months. We think this is premature. Leaving aside the fact that the ruble remains vulnerable to any further escalation of the Ukraine crisis, inflation is likely to prove more stubborn than both the CBR and the market seems to expect.
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