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Morgan Stanley Among Minority Seeing No Change at CBR Decision

RUSSIA
  • Adding to the minority of sell-side views seeing an unchanged Russia rate decision today, MS write that they see it continuing with cuts at a more gradual pace.
  • As such, MS expect another 100bp cut in July. Given the incoming inflation data, a 100bp cut will also be considered as an option today. However, the CBR has said it sees the current disinflationary trend as still unsustainable.

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