8 Jun 2015
CBR could cut rates again – TDS
FXStreet (Edinburgh) - The Russian central bank could cut its benchmark rates further at its next meeting on June 15th.
Key Quotes
“This week in EM there are no major rate decisions, but on Monday of next week (15 June) there is the Russian rate decision”.
“Inflation is past its peak in Russia and should be on a downwards trend for the rest of the year”.
“The CBR is keen to stimulate the ailing economy, and at the last meeting it cut the key rate by 150bps to 12.5%”.
“We think the CBR will cut again on Monday, but recent RUB weakness will make the CBR somewhat more cautious and that they will cut by only 100bps, bringing the key rate to 11.5%. This is in line with the consensus expectation”.
Key Quotes
“This week in EM there are no major rate decisions, but on Monday of next week (15 June) there is the Russian rate decision”.
“Inflation is past its peak in Russia and should be on a downwards trend for the rest of the year”.
“The CBR is keen to stimulate the ailing economy, and at the last meeting it cut the key rate by 150bps to 12.5%”.
“We think the CBR will cut again on Monday, but recent RUB weakness will make the CBR somewhat more cautious and that they will cut by only 100bps, bringing the key rate to 11.5%. This is in line with the consensus expectation”.