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MOSCOW, Oct 23 - Russia will hike its benchmark interest rate to 14% on Friday and give another hawkish signal to the market, a Reuters poll showed, with the central bank needing to rein in accelerating inflation exacerbated by the weakness of the rouble.
Annual inflation accelerated to 6.38% as of Oct. 16, above the bank's 4% target, pushed up by Russia's budget deficit, labour shortages, strong consumer demand and the rouble's depreciation this year. Those demands, and the bank's previous tightening steps, are holding the key rate back from further increases for now, said ACRA rating agency's Dmitry Kulikov.
Finam brokerage's Olga Belenkaya said the central bank would consider holding rates steady, raising to 14% - her expected scenario - or hiking even more sharply.
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