Russian Central Bank announces rise of nearly 1 ppt in inflation expectations ahead of board meeting on key rate

MOSCOW. July 17 (Interfax) - The Central Bank of Russia (CBR) has published data on growth in inflation expectations on the part of households ahead of the regulator's meeting of the board of directors on the key rate.

According to an inFOM poll posted on the CBR's website, households' inflation expectations have risen from 10.2% to 11.1% in July.

Inflation expectations are one of the important factors that the CBR takes into account when taking a decision on the key rate.

The CBR's next meeting of the board of directors on monetary policy is scheduled for July 21.

Most analysts expect the regulator to hike the key rate by 50 basis points to 8% per annum at its meeting this Friday, while some analysts allow for a larger hike of 75-100 bps.

The CBR since 2021 has decided to publish information on the dynamics of inflation expectations as data become available even if the data come during the so-called "week of silence" ahead of the board meeting.