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BNP Paribas cement their forecast for........>

RUSSIA
RUSSIA: BNP Paribas cement their forecast for Russian rates at 4.0% by end-2020
(implies 150bps of rates cuts in the next six months), with much of that
front-loaded with a 100bps cut at the June 19th meeting.
- BNP see the CBR having a freer hand over rates as Russia has avoided any
currency crisis or sharp rise in inflation throughout the COVID-19 market
turmoil, leaving core inflation close to recent lows and below 3.0%.

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