Russia: Persistent price pressures justify monetary tightening
In Russia, recent economic indicators corroborate the narrative of a V-shaped recovery. The authorities are concerned about a mismatch between rapidly recovering demand and lagging supply. In May, headline inflation increased to 6.0% y/y, two percentage points above the CBR’s inflation target. In these circumstances, the CBR’s choice to front-load its monetary tightening is understandable. We expect it to remain in hawkish mode until the year ends.
We will be repeating the same webinar to cater for the difference in time zones between APAC, EMEA and the Americas:
- APAC – Tuesday 15th June | 10:00 HKT
- EMEA – Tuesday 15th June| 10:00 BST
- Americas – Tuesday 15th June | 16:00 EDT
Gabriel Sterne
Head of Global Strategy Services and EM Macro Research
Gabriel Sterne
Head of Global Strategy Services and EM Macro Research
Gabriel Sterne | Head of Global Strategy Services and EM Macro Research
Gabriel delivers macro-economic products tailored for the financial markets, as Head of a team that integrates global strategy and EM macro views. Recently he has published most on populism, demographics and other drivers of low global yields, and the evolution of global fragilities as expansions mature. On the EM side he is a global expert on sovereign crisis and debt restructuring issues.
Tatiana Orlova
Lead EM Economist
Tatiana Orlova
Lead EM Economist
Tatiana Orlova | Lead EM Economist
Tatiana recently joined Oxford Economics as a Lead Economist for Emerging Markets. Prior to this, she was working at Emerginomics which she founded and was also the Chief Economist. From November 2012 until April 2016 Tatiana worked for The Royal Bank of Scotland, London as the Director in CEEMEA Research, Fixed Income.
Related Services
Event
Early look at 2026: Global outlook for corporates for the next 12-18 months
In this webinar, we'll share our most updated outlook for key markets and sectors globally for the rest of 2025. We'll also provide an early look at 2026 for companies beginning work on their 2026 budgets. We'll cover major geographies, including US, China, Europe, and emerging markets, as well as demand trends across consumers and industry. We'll discuss tariffs, costs, and planning challenges for firms and answer questions from companies looking to inform internal planning decisions in this uncertain environment.
Find Out More
Event
Global pumps market outlook 2025
The ongoing trade war has curtailed global economic growth. And even as tariffs are rolled back, uncertainty, and the impact on business investment, will remain in the near term. Against this backdrop, we set out our forecasts for the global pump market and discuss the risks to our baseline forecasts.
Find Out More