In view of analysts at BBH, the Russian central bank (CBR) could still lower its key rate before year-end.
“CPI rose 6.4% y/y in September, the lowest since February 2014 but still well below the 4% target. Core inflation fell to 6.7% y/y in September, the lowest since April 2014, while PPI was only 3.1% y/y in August”.
“The central bank has been cutting rates cautiously. The last move was a 50 bp cut to 10% in September, with total easing of 700 bp seen since February 2015. The next policy meeting is October 28, and no action is seen so soon after its last rate cut. Governor Nabiullina recently pledged to keep policy steady for the rest of 2016, but falling inflation could allow her to cut once more before year-end”.
- R3 64.4763
- R2 64.1031
- R1 63.6030
- PP 63.2298
- S1 62.7297
- S2 62.3565
- S3 61.8564
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 securities. 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 Forex 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.