A Reuters poll on Monday suggested the Bank of Russia would hike rates to 8% at its meeting on Friday, increasing the cost of borrowing for the first time in over a year as the rouble’s sharp slide adds to inflationary pressures.
The central bank targets inflation at 4%, which it aims to achieve by next year. It has forecast inflation will fall to 4.5%-6.5% this year.
Source: Economy - investing.com
