CBRF to remain on hold this week – BBH

Analysts at BBH expect the Russian central bank to keep its monetary status quo unchanged at Friday’s meeting.

Key Quotes

Central Bank of Russia meets Friday and is expected to keep rates steady at 10.0%”.

“However, a handful of analysts expect cuts of 25-50 bp. CPI inflation eased to 4.6% y/y in February, the lowest since June 2012 and very close to the 4% target”.

“Governor Nabiullina has said that rates likely won’t be cut in H1. We see no move, as the 15.1% y/y rise in February PPI argues for continued caution”.