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The central bank's sharper-than-expected rate hike to 15% in late October also helped the rouble hit a three-month high of 91.6225 this week. None of the analysts polled now see inflation reaching the lower end of the central bank's 4-4.5% forecast for inflation next year. Russia has steadily worsened its 2023 inflation forecast and analysts now see price rises ending the year above 7%. Analysts raised their expectations for Russia's gross domestic product (GDP) growth to 2.5% this year, from 2.3% in the previous poll. GDP growth in 2024 is seen at 1.5%, dropping to 1.3% in 2025.

Persons: Vladimir Putin, Putin, Mikhail Vasilyev, Alexander Marrow, Andrew Cawthorne Organizations: Bank of, Analysts, Thomson Locations: Russia, Bank of Russia

By 1417 GMT, the rouble was 0.4% stronger against the dollar at 93.57 , earlier reaching 92.5100, its strongest point since Sept. 12. "We expect that by the end of the year the rouble exchange rate will be trading in the range of 94-98 per dollar, 99-104 per euro and 12.8-13.4 per yuan," Vasilyev said. CURRENCY CONTROLSMonth-end tax payments, due on Oct. 30, which usually see exporters convert foreign exchange (FX) revenue to pay domestic liabilities, have supported the rouble in recent days. The rouble has strengthened from beyond 100 to the dollar since the decree was announced. "The specific impact of currency restrictions on the dynamics of the exchange rate will be insignificant in our opinion," she said.

Persons: Mikhail Vasilyev, Vasilyev, Yevgeny Suvorov, Suvorov, Vladimir Putin's, Elvira Nabiullina, Brent, Alexander Marrow, Mark Potter, Christopher Cushing, Deborah Kyvrikosaios, Gareth Jones Organizations: Bank, Bank of Russia, FX, Reuters, Thomson Locations: Russia, Ukraine MOSCOW, Moscow, London

All 23 analysts and economists polled by Reuters on Monday predicted that Russia would keep its benchmark rate unchanged (RUCBIR=ECI) again on Friday. There is no intrigue surrounding Friday's rate decision, said Dmitry Polevoy, head of investment at Locko Invest. "The 7.5% rate is unlikely to be changed and the neutral signal maintained," he said. Annual inflation slowed to 11.98% in November, partly due to the strong rouble and weak demand. "Inflation is slowing down now, but not sharply," said Andrei Dyuryagin, investments director at MKB Investments.

☆ Battling high inflation, sanctions, Russia to resume rate-cutting next year - Reuters poll
▼ + stars: | 2022-11-03 | by ( Alexander Marrow | ) www.reuters.com time to read: +3 min

The average forecast among 14 analysts polled in early November suggested the Russian economy was on track to shrink by 3.5% this year. Data published this week show a deeper contraction in retail sales in September, while businesses have seen sharp drops in employment. In January, before the conflict in Ukraine began, analysts had on average expected the economy to grow by 2.5% with year-end inflation at 5.5%. Russia targets inflation at 4%. Reporting by Alexander Marrow and Elena Fabrichnaya; Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Russian women worried about their sons dying in Ukraine should have more babies, influential Orthodox priest says
▼ + stars: | 2022-10-27 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

Vladimir Putin ordered the partial mobilization of 300,000 military reservists last month. An Orthodox priest was asked if he sympathizes with the mothers of mobilized Russian recruits. Mikhail Vasilyev said women should have more babies if they are sad about their sons going to war. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyAn influential Orthodox priest said that Russian women worried about their sons dying in Ukraine should have more babies. On Tuesday, Putin admitted that Russia faces "issues" in the Ukraine war and urged his team to "provide support for the special military operation."

Since then, the central bank has cut rates six times, most recently to 7.5% last month. Register now for FREE unlimited access to Reuters.com RegisterTwenty-two of 26 analysts and economists polled by Reuters on Monday predicted that Russia would keep its benchmark rate unchanged (RUCBIR=ECI) on Friday. President Vladimir Putin's partial mobilisation order and subsequent declaration of martial law in four partly-occupied regions of Ukraine that Russia says it owns have exacerbated geopolitical risks. Economic activity slowed significantly at the end of September, the central bank said this month. "Stimulating growth of retailer and corporate lending by lowering the rate is currently pointless, in my view."

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