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RUSSIA: China-Russia Trade Continues to Expand, August CPI Data on Tap

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  • Trade between China and Russia continued to expand in August, Kommersant report. Compared to July, shipments from China to Russia increased by 2.7%, while counter shipments increased by 17.7%, according to China’s customs data. However, in a year-on-year comparison, while shipments to Russia grew by 10%, Russian shipments to China declined slightly in August, which the newspaper say may serve as evidence of increasing complications of settlements for Russian exports.
  • The Federal Statistics Service reports August inflation data at 17:00BST/19:00 local time, where the headline figure is seen moderating marginally to +9.00% Y/Y from +9.13% in July. Month-on-month, prices are expected to rise 0.13% (Prior: +1.14%).
  • As a reminder, the CBR meet on Friday, with analysts split over whether the central bank will opt for another rate hike or keep its key rate unchanged at 18%. Our full preview of the decision, with a summary of sell-side analyst views, will be released later today.
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  • Trade between China and Russia continued to expand in August, Kommersant report. Compared to July, shipments from China to Russia increased by 2.7%, while counter shipments increased by 17.7%, according to China’s customs data. However, in a year-on-year comparison, while shipments to Russia grew by 10%, Russian shipments to China declined slightly in August, which the newspaper say may serve as evidence of increasing complications of settlements for Russian exports.
  • The Federal Statistics Service reports August inflation data at 17:00BST/19:00 local time, where the headline figure is seen moderating marginally to +9.00% Y/Y from +9.13% in July. Month-on-month, prices are expected to rise 0.13% (Prior: +1.14%).
  • As a reminder, the CBR meet on Friday, with analysts split over whether the central bank will opt for another rate hike or keep its key rate unchanged at 18%. Our full preview of the decision, with a summary of sell-side analyst views, will be released later today.