September 7, 2018 / 9:08 AM / 2 months ago

RPT-Russia central bank says market expects rate hike

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MOSCOW, Sept 7 (Reuters) - Money market rates in Russia suggest the market expects the central bank to raise its interest rates to address inflationary risks, the central bank said on Friday.

The central bank’s comment comes shortly before the week of silence that the bank observes before its rate-setting meeting scheduled for Sept. 14.

The central bank said in a regular report on market trends there was a risk that annual inflation could overshoot its 4 percent target by the end of the year due to the rouble’s drop seen in August.

The central bank also said volatility on the Russian financial markets has increased to levels comparable with other emerging markets, boosted by concerns about new U.S. sanctions and turmoil on markets in Turkey and Argentina. (Reporting by Andrey Ostroukh Editing by Matthew Mpoke Bigg)

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