Russia: CBR prepping to cut another 50bps – TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities are expecting the CBR to cut the Key Rate by another 50bps to 6.00% on Friday.

Key Quotes

“The consensus is less dovish and expects 25bps of easing, which is also quite a likely scenario. In this latter case, we would consider further easing in 2020 more likely than a hold as we currently forecast (premised on 50bps of easing this week).”

“FX: If the CBR eases by 50bps, as we expect, we anticipate a very limited rally in USDRUB only. Modest downside-to-no reaction if the CBR cuts 25bps. Expect somewhat stronger downside move in USDRUB in the very unlikely event of a hold.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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