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CBR Governor Sees Rates Returning to Neutral in 2025

RUSSIA
  • Speaking to joint State Duma Committees on monetary policy, Russian Central Bank Governor Nabiullina said that capital controls will continue to be softened, though there is no need for further liberalization with rates seen returning to the neutral level of 5-6% in 2025. She also outlined the role digital currencies can play in helping Russia trade with its partners.
  • Interfax reports that Foreign Minister Lavrov will hold talks with Indian External Affairs Minister Jaishankar at 0900GMT/1200 local time, before holding a news conference at 1000GMT/1300 local time.
  • There are no major economic releases scheduled today ahead of CPI data crossing tomorrow evening, where a print of 12.80% y/y is expected.

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