Kostin does not anticipate the Russian Central Bank will hold its key rate steady at the upcoming meeting, contrary to market expectations, according to TASS. Meanwhile, Gref argued that the Bank of Russia has room to further cut its key rate despite rising inflation. He attributed the inflationary pressures to a supply shock, resulting from capacity losses due to drone attacks, rather than a surge in demand, and suggested that this does not warrant a monetary policy response, reports Vedomosti.
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