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CBR Rate Decision in Focus This Afternoon

RUSSIA
  • The CBR are widely expected to continue its hiking cycle with a 100bp increase to the key rate, taking it to 14%. 9 of the 14 analysts in the Bloomberg survey see a 100bp increase (3 see no change, 1 a smaller 75bp increase) while 16 of the 18 surveyed by Vedomosti expect the increase in the key rate to be by at least by 100bps. The decision is at 1130BST/1330 local time and is followed by a press conference from Governor Nabiullina at 1300BST/1500 local.
    • See the full preview, including a summary of sell-side analyst views, here.
  • In October, Brazil significantly increased its imports of Russian diesel fuel, despite restrictions on its exports imposed by the Russian authorities, Kommersant report. In the second half of October, Brazil even became the largest destination for diesel exports from Russia, overtaking Turkey.
  • There is little else in the way of notable domestic news flow today.

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