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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Executive Summary:
- The CBRT cut rates 100bps to 12.00%, against expectations of unchanged policy
- Policy statement flagged a number of indicators suggesting weakening demand
- Out of 8 sell-side previews seen by MNI, only 1 predicted a rate cut
Full review here:
The CBRT delivered another surprise 100bps cut in the repo rate, decreasing the benchmark rate to 12.00%. The policy statement cited downward revisions to global growth forecasts, recession risks as well as a slowdown in foreign demand as factors contributing to the decision.
The assessment of inflation was broadly unchanged, explaining the recent increase in inflation by pointing to external factors and rising commodity prices. The Committee again noted that it expects the disinflation process to start on the back of strengthened measures to resolve financial stability, along with the resolution of the ongoing regional conflict.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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