Russian companies surveyed by the central bank expect inflation in 2025 of 10.7%, more than double the official forecast, and named labour shortages as one of the main factors stopping them expanding production,

The central bank reduced its one-week repo rate to 45% from 47.5% as a cycle of higher borrowing costs bore fruit in cooler price rises.

Japan's central bank has raised its key interest rate to about 0.5% from 0.25%, noting that inflation is holding at a desirable target level.