FXStreet (Edinburgh) – Paul Fage, Senior EM Strategist at TD Securities, expects the Russian central bank to stay on the sidelines at its meeting tomorrow.
Key Quotes
“At tomorrow’s (11 September) meeting of the Board of Directors of the Central Bank of Russia (CBR), we expect the key rate to be kept unchanged at 11.0%. This is in line with the consensus”.
“Although the economy remains very weak, the almost 11% rise in USDRUB since the July meeting will cause the CBR to err on the side of caution”.
“However, we think the CBR will continue cutting its key rate later in the year when the CPI inflation rate clearly resumes its downwards trend”.
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