In line with the almost unanimous consensus, analysts at TD Securities are expecting the CBR to cut its policy rate, the Key Rate, by 25bps to 7.5% at today's Board meeting.
“At the April meeting the CBR said that a rate cut could happen in Q2-Q3 and Governor Nabiullina has recently said a cut could happen at today's meeting, saying that recent data "confirms that inflation is evolving tangibly better than expected".”
“With USDRUB fairly stable and the global financial environment turning distinctly more dovish, we see little in the way of a cut. The press statement should give us an idea how quickly the CBR could cut again. We think they will be fairly cautious and probably skip a meeting before cutting again in September.”
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.