MOSCOW: Markets have stabilised since Russia’s central bank delivered a surprise rate hike in September, but with inflation rising and the risk of new US sanctions looming, governor Elvira Nabiullina faces a fresh test when she delivers her next move today.
The central bank has added to the complexity by promising to announce closely watched plans for resuming billions of dollars in foreign-currency purchases today as well. All the moving parts have analysts the most split they’ve been in months on the regulator’s next move.