SCW RUSSIAWIRE: “Russia Inc. Isn’t Waiting for Central Bank to Brave a Rate Hike” – Bloomberg/Anna Andrianova

“The cost of money is rising for Russians well ahead of any potential central bank move to lift interest rates for the first time in almost four years amid concern the U.S. may impose fresh sanctions. State-run Sberbank PJSC, which holds almost half of all Russian savings, is increasing rates for ruble accounts for the first time since 2014. … [and] pay[ing] consumers more to keep dollars on deposit to stanch an outflow …. One of the country’s five largest mortgage lenders, Raiffeisenbank JSC, is charging more for home loans …. From sausages to gasoline, inflation is on the march …. with the central bank’s benchmark on hold at 7.25 percent since a quarter-point cut in March, rates adjusted for inflation remain among Europe’s highest …. “

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