According to Jinshi Data, a Reuters poll showed that the Russian Central Bank will raise interest rates by 200 basis points to 18% at its meeting on July 26 to curb inflation and cool down the overheated economy. The country's current inflation rate is 9.2%, far higher than the regulator's target of 4%. Massive government spending, wage growth, labor shortages and credit growth are the main factors of inflation. All 28 analysts interviewed believe that a rate hike is inevitable, with three-quarters expecting a 200 basis point increase and only four analysts believing that a 100 basis point increase is possible.