Against the backdrop of rising exchange rates, volatility in the stock market and expected sanctions from the West due to the start of a military operation in the Donbass, inflation could accelerate to 20%. In addition, the Central Bank may urgently raise the key rate to 15-17% at an unscheduled meeting, as happened after the reunification of Crimea with Russia, bank representatives and experts say.
The weakening of the ruble and the panic in the financial market will lead to an acceleration of inflation, while the population will accelerate their spending, fearing even higher prices, especially for imported goods, said Vladimir Evstifeev, head of the analytical department of Bank Zenit. In his opinion, inflation can reach 15-18%, and the Central Bank will announce an unscheduled meeting and raise the rate to 15-17%, as it was in 2014.
The yield level of short OFZs also shows that the market is expecting a rate hike to 15-17%, said Olga Belenkaya, head of the macroeconomic analysis department at FG Finam. The situation in the economy will depend on Western sanctions, while inflation in Russia in 2022 may reach 17–20%, says Alexey Tarapovsky, founder of Anderida Financial Group.
Russia was somehow preparing for what is happening now in terms of sanctions policy, Russian President Vladimir Putin said at a meeting with Russian business on February 24. He stressed that the government should provide him with more freedom of business.
More details – in the exclusive material of “Izvestia”:
“A thin border: should the Central Bank expect an unscheduled rate hike to 17%”
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
