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CBR Eyes 200bps Rate Cut as Priorities Shift to Growth

RUSSIA

29/04/22 - 1130BST/1230CET/0630EST


The CBR is broadly expected to reduce its Key Rate by 200bps to 15.00% this week on the back of more moderate inflationary pressures and a resurgent rouble. With emergency measures having delivered relative market stability, the Bank’s focus now shifts away from inflation towards growth to soften recessionary risks to the economy. Nabiullina will also resume her post-statement pressers, with markets keenly focused on her assessment of the medium to longer-term outlook.

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MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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