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Turkey's official annual GDP growth cools to 2% in 1Q
21 hours ago
Russia’s consumer prices rose by 0.06% week on week during the period of May 20 to May 26, down from 0.07% in the previous week, according to the latest data from RosStat. (chart)
This translates into the estimated annual inflation of 9.8%, according to the Ministry of Economic Development.
As followed by bne IntelliNews, at the end of March inflation was finally curbed below the Central Bank of Russia (CBR) guidance, but it remains far from the target 4%. Still, since May inflation appears to be entering a stable single-digit trend.
The CBR maintained the key interest rate at 21% in April, but as inflation is expected to moderate in 2Q25, the regulator cut start cutting the rate as early as June.
Renaissance Capital noted that the CBR’s Deputy Governor Philip Gabuniya hinted at a potential key rate cut during a financial stability briefing ahead of the June 6 regulator’s policy meeting.
While the CBR typically focuses on full monthly data, the recent weekly figures suggest that inflation in June could fall below the CBR's current forecast of 10.1%.
Renaissance Capital analysts believe the combination of easing price pressures and Gabuniya's comments increase the likelihood of a rate cut at the upcoming meeting. They anticipate that any reduction would be limited to 100 basis points, with the possibility of a more dovish policy stance emerging in July.
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