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Rising global tariffs begin to affect inflation in major economies — Bank of Russia

The impact is so far observed only in certain components

MOSCOW, February 26. /TASS/. Participants in the Bank of Russia’s key rate discussion noted the first effects of rising global tariffs on inflation, although the impact is currently visible only in specific components, according to the summary of the key rate discussion published by the regulator.

"Participants noted that the effects of tariff increases have begun to manifest themselves in inflation dynamics in major economies. However, the impact is so far observed only in certain components," the document said.

The central bank also noted that the US Federal Reserve in January paused its monetary policy easing, citing the need to assess inflation risks. The European Central Bank left its key rate unchanged. At the same time, most other central banks have also paused changes in interest rates.