Russia’s high inflation in June prompted a wide-scale revision in analysts’ forecasts, shifting market expectations towards a 100 basis-point interest rate hike on Friday, a Reuters poll suggested on Monday. Annual consumer inflation, the central bank’s main area of responsibility, overshot expectations and accelerated to 6.5% in June, reaching its highest since August 2016 when the key rate was at 10.5%, data showed earlier this month. Sixteen of the 26 analysts and economists polled said the central bank would raise the key rate to 6.50% from 5.50% at the July 23 meeting. In late June, a Reuters poll of 15 analysts ... (full story)