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CBR Widely Expected to Keep Key Rate Unchanged at 16% (11:30BST)

RUSSIA
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  • The Central Bank of Russia is unanimously expected to stand pat on rates at 16% given persistent concerns over inflation (11:30BST/13:30 local time). The central bank stated in the minutes of the March MPC meeting that there should be no additional directional signal about changes in the level of the key rate at coming meetings. Governor Nabiullina’s post-decision press conference will take place from 13:00BST/15:00 local time. See our full preview, with sell-side analyst views, here.
  • US Secretary of State Antony Blinken will meet with President Xi Jinping in Beijing, as the world’s biggest economies spar on trade complaints and China’s continued support for Russia, Bloomberg report. Blinken earlier held five hours of what the US called “constructive” meetings with China’s Foreign Minister Wang Yi.
  • The Russian Union of Industrialists and Entrepreneurs congress with President Putin discussed the most pressing issues for businesses, including tax regulation, the revisiting of privatization results and the labor shortage, Kommersant report.
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  • The Central Bank of Russia is unanimously expected to stand pat on rates at 16% given persistent concerns over inflation (11:30BST/13:30 local time). The central bank stated in the minutes of the March MPC meeting that there should be no additional directional signal about changes in the level of the key rate at coming meetings. Governor Nabiullina’s post-decision press conference will take place from 13:00BST/15:00 local time. See our full preview, with sell-side analyst views, here.
  • US Secretary of State Antony Blinken will meet with President Xi Jinping in Beijing, as the world’s biggest economies spar on trade complaints and China’s continued support for Russia, Bloomberg report. Blinken earlier held five hours of what the US called “constructive” meetings with China’s Foreign Minister Wang Yi.
  • The Russian Union of Industrialists and Entrepreneurs congress with President Putin discussed the most pressing issues for businesses, including tax regulation, the revisiting of privatization results and the labor shortage, Kommersant report.