"The markets could be getting ahead of themselves pricing in a new easing cycle at the time when a cut in July could be 'one and done for now'."
"We expect the CBRT to keep its main policy rate unchanged at 24% on June 12. It would be also prudent to restore a higher degree of hawkishness in the official statement to prevent the market from speculating about the possibility of a premature rate cut, which would be counterproductive."
"Inflation continues to decelerate on the back of the strong disinflationary impact of weak consumption."
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