Russia Needs to Raise Rates Further as Inflation at Highest Since 2016: Poll of Analystson October 1, 2021 at 3:40 pm

MOSCOW—Russia will need to raise interest rates further to combat stubbornly high inflation that overshot forecasts and shows little signs of slowing, a Reuters poll showed on Thursday. Russia’s export-focused economy has already recovered to pre-pandemic levels and is on track to grow further. But the recovery, together with global inflation and a weak rouble, is pushing consumer prices higher, denting living standards. The consensus forecast of 22 analysts polled in late September suggested the central bank will raise its key rate for the sixth time this year at the Oct. 22 board meeting to 7 percent. Some analysts said the central bank could raise the rate to 7.25 percent, addressing inflation that accelerated to 7.3 percent as of late September, flying at levels last seen more than five years ago and above the 4 percent target. “It appears, that Russia is now dealing with the consequences of the additional …

Leave a Reply

Your email address will not be published.

Next Post

BOJ Debated Risks From Supply Constraints, China Slowdown: September Summaryon October 1, 2021 at 3:46 pm

Fri Oct 1 , 2021
TOKYO—Bank of Japan (BOJ) policymakers in September saw rising risks to the economy from slowing Chinese growth, semiconductor shortages and Southeast Asian factory shutdowns, a summary of opinion expressed at their monthly rate review showed on Friday. Such heightening external risks could affect the BOJ’s fresh quarterly growth projections, due […]

Chief Editor

Johny Watshon

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur

Quick Links

Newsletter Signup

Sign up now and never miss a thing!

You're Signed Up!

Now that you are signed up, we will send you exclusive offers periodically.