Russian Rates May Rise as Focus Shifts to Inflation
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Russia’s central bank said it may increase interest rates in the first quarter, signaling a shift in its focus to inflation as the International Monetary Fund warned prices may remain “elevated on unchanged policies.”
“Inflation is beginning to worry us,” Chairman Sergey Ignatiev told reporters yesterday in Moscow. The central bank will “primarily” use its interest-rate policy to control rising prices, he said.