Free Trial

RUSSIA: CBR Considered Hike of 100-200bps in June

RUSSIA
  • The CBR considered two options at its rate-setting meeting in June, according to the minutes of the meeting released today: a hold at 16.00% or a hike by 100-200bps. 
  • While the central bank ultimately opted for the former, the minutes state that “if convincing evidence of the implementation of an alternative scenario is received in statistical data, at the July meeting a decision may be made to increase the key rate, and significantly.” 
  • Governor Elvira Nabiullina has previously explained that a "considerable" is a rate increase of more than one percentage point.
  • The full minutes can be found here. The CBR meet next on July 26.
     

To read the full story

Close

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.