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RUSSIA: RUB, Stocks Surge Following Trump-Putin Call, CBR Rate Decision Eyed

RUSSIA
CEEMEAEM BulletRussiaBulletEmerging Market News
  • The first official conversation between Russian President Vladimir Putin and US President Donald Trump prompted a sharp surge in the ruble and local stocks, with USD/RUB briefly showing below the 90.00 level and the Moscow Exchange index above 3200 points. Kommersant note that trading volumes in stocks was the highest since the beginning of the war in Ukraine.
  • The Bank of Russia announces it key rate decision at 10:30GMT/13:30 local time. Officials are widely expected to keep its key rate unchanged at 21% again this month given that inflationary pressures and lending dynamics have not developed in a way which would warrant a further tightening of monetary policy. Governor Elvira Nabiullina will hold a briefing on the decision at 13:00GMT/15:00 local. See the full preview, with a summary of sell-side analyst views, here.
  • The Federal Statistics Service reports January inflation data at 16:00GMT/19:00 local (Est: +9.9% Y/Y, +1.2% M/M).
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  • The first official conversation between Russian President Vladimir Putin and US President Donald Trump prompted a sharp surge in the ruble and local stocks, with USD/RUB briefly showing below the 90.00 level and the Moscow Exchange index above 3200 points. Kommersant note that trading volumes in stocks was the highest since the beginning of the war in Ukraine.
  • The Bank of Russia announces it key rate decision at 10:30GMT/13:30 local time. Officials are widely expected to keep its key rate unchanged at 21% again this month given that inflationary pressures and lending dynamics have not developed in a way which would warrant a further tightening of monetary policy. Governor Elvira Nabiullina will hold a briefing on the decision at 13:00GMT/15:00 local. See the full preview, with a summary of sell-side analyst views, here.
  • The Federal Statistics Service reports January inflation data at 16:00GMT/19:00 local (Est: +9.9% Y/Y, +1.2% M/M).