Russia: CBR leaves rates unchanged


As expected, the Central Bank of Russia left all key policy rates unchanged at today’s meeting. Strong economic performance and accelerating credit growth in Russia are arguing for rate hikes, while slowing global growth, market uncertainty and easing inflation argue for lower rates. We expect the central bank to remain on hold for the rest of the year, as the global economic outlook remains very unclear. Assessment and outlook The Central Bank of Russia (CBR) left all key policy rates

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