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Emerging Markets January 13, 2021 / 02:28 pm UTC

Rate Cuts Off the Agenda Given CPI Acceleration

By Francesca Beausang
Russian CPI inflation rose to 4.9% y/y in December, which is the top of the CBR’s 4.6-4.9% y/y target range, and will most likely peak in Q1 2021. We think the Central Bank of Russia (CBR) will abandon plans for further easing.