Russia flags hotter inflation as fuel woes and war spending bite
TL;DR Summary
The Bank of Russia cut its key rate to 14.25% from 14.5% but warned that inflation risks remain due to expanded budget spending and a fuel crisis triggered by Ukrainian drone strikes. Petrol shortages and price spikes are fuelling inflation expectations, prompting policymakers to keep monetary policy tight for longer even as the economy slows.
- Fuel crisis and war costs: Bank of Russia flags risks of faster inflation Euronews
- Russian central bank trims rate by 25 bps to 14.25% amid fuel supply, budget risks Reuters
- Russia Surprises With Smaller Rate Cut Even as Inflation Eases Bloomberg.com
- Russia’s Central Bank Cuts Key Rate After Economy Contracts WSJ
- Russian Central Bank Slashes Key Rate to 14.25% The Moscow Times
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