“According to them, annual inflation, instead of the expected slowdown, accelerated in January from 7.42% to 7.44%. The driver of growth turned out to be mainly fruit and vegetable inflation and an increase in gasoline prices in annual terms. Although the population’s inflation expectations continue to decline, inflation again showed growth in the first week of February,” explained RT’s interlocutor.
According to his forecast, the Central Bank of Russia will most likely leave the key rate unchanged at tomorrow's meeting of the board of directors.
“But it is possible that in the accompanying comments we will hear a certain signal about the possibility of raising the key rate in March if inflation continues to rise in February and early spring. The ruble, given strict signals from the Central Bank of Russia, may resume strengthening again and roll back to 90 rubles per dollar and 97 rubles per euro,” the analyst concluded.
Earlier, Markets Money Power analyst Sergei Ramaninov, in a conversation with RT, commented on the situation in the oil and foreign exchange markets.