Economics
Russia Warns More Hikes May Be Coming After Rate Surprise
- Nabiullina says it’s too early to discuss an end to tightening
- Only one economist out of 44 forecast the 75bps Hike
Photographer: Elena Chernyshova/Bloomberg
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Bank of Russia may have stunned bond and currency markets with the size of its rate hike on Friday, but entrenched inflation means traders shouldn’t assume the hawks are done.