Bank of Russia easing could 'jeopardise' inflation anchor

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The IMF today encouraged the Bank of Russia to keep monetary policy "geared towards achieving inflation objectives" and warned that providing stimulus could "jeopardise newly minted macroeconomic anchors".

Russian annual growth fell to 1.6% in May, and analysts have suggested the central bank is coming under pressure to accord greater priority to growth in its policy-making.

In its latest Article IV consultation with Russia, released today, the IMF attributes the decline in economic activity to

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