Bank of Russia raises rates by 100bps to 10.5% as expected

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Central Banks

Ryan Littlestone

11/12/2014 | 10:42 GMT

Annual inflation at 9.4% as of Dec 8, CPI driven by ruble and sanctions
Will continue to increase rates if CPI accelerates
GDP seen at 0.6% this year, near zero for 2015/16, may recover slightly in 2017
Consumer activity seen weak in 2015/16

The squeeze on Russia continues and the central bank is in full fire fighting mode

CBR interest rate 11 12 2014

USD/RUB daily chart 11 12 2014

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