Russia May Raise Deposit Rate a Second Month to Fight Inflation

Russia’s central bank will probably tighten monetary policy today for a second month to contain the fastest inflation in a year by soaking up capital from banks.

Bank Rossii will increase the deposit rate by a quarter-point to 3 percent, according to 12 of 16 analysts in a Bloomberg survey. Seven economists predict the regulator will also lift the refinancing rate by a quarter-point to 8 percent. Policy makers in Moscow will announce the decision later today.