Bank of Russia's Nabiullina: Monetary easing cycle is over

Eren Sengezer FXStreet

Central Bank of Russia Governor Elvira Nabiullina said on Friday that the monetary easing cycle is over but added that they don't yet have a timeline for a return to a neutral policy, as reported by Reuters.

"Inflation is expected to peak at around 5.5% in February and March," Nabiullina further noted and added that they will start publishing key rate trajectory in April. "We will consider the time to return to a neutral policy when inflation steadies at 4%," Nabiullina concluded.

Market reaction

The USD/RUB pair retreated modestly from daily highs after these comments and was last seen gaining 0.85% on a daily basis at 74.2570.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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