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Russian Rate Cut on July’s Agenda as Inflation Surprises

Published 07/08/2019, 10:32 AM
Updated 07/08/2019, 10:50 AM
© Reuters.  Russian Rate Cut on July’s Agenda as Inflation Surprises

© Reuters. Russian Rate Cut on July’s Agenda as Inflation Surprises

(Bloomberg) -- Inflation in Russia is decelerating more sharply than Bloomberg Economics expected, while the weakness in demand appears to be lingering. BE now sees the central bank favoring a rate cut at its July 26 meeting, bringing forward the easing previously anticipated for September. Food costs drove the bigger-than-forecast decline, but broader price pressure has been soft for several months.

To contact the staff on this story: Scott Johnson (Economist) in London at sjohnson166@bloomberg.net

To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net

©2019 Bloomberg L.P.

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