Russia: CBR to keep its Key Rate on hold - TDS
|Analysts at TDS expect the CBR to keep its Key Rate on hold at 7.25% at today’s Board meeting, in line with the consensus with only 3/36 respondents to the Bloomberg survey expecting a cut.
Key Quotes
“Since the last Board meeting, on 23 March, the ruble has weakened by more than 8.0% against the US dollar with the sell-off triggered by the US increasing its sanctions on Russia. The CBR will be concerned that ruble weakness, if maintained, or indeed extended, could lead to inflation overshooting the 4% target later this year. This argues for the CBR returning to its more cautious stance, and waiting to see what happens to the currency.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.