Russia: CBR says could consider harsher monetary policy in the event of a crisis

Eren Sengezer FXStreet

According to the latest headlines crossing Reuters, the Central Bank of Russia (CBR) said that they could consider a "harsher monetary policy" in the event of a crisis. The CBR further said that they were expecting the GDP growth in the third quarter to 0.8-1.3% range boosted by increasing state investments.

The bank also stated that its baseline scenario supposes coordination among OPEC members and their allies.

The USD/RUB pair didn't show a significant reaction to the CBR's remarks and was last seen at 62,8845, losing 0.2% on a daily basis.

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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