Free Trial

RUSSIA: Manufacturing PMI Edges Higher, No Consensus on Upcoming CBR Decision

RUSSIA
  • S&P Global’s Manufacturing PMI for Russia edged slightly higher from 54.3 in April to 54.4 in May.
  • With the Russian coal industry's performance deteriorating, the Energy Ministry is looking for ways to support struggling miners, Kommersant report. It proposes to continue talks with China to eliminate import duties on Russian coal, ease logistics conditions and stop using the Australian index to calculate the mineral extraction tax on coal.
  • Foreign Minister Lavrov arrives in Guinea at the start of a visit to Africa, while Prime Minister Mishustin visits Belarus where he will take part in the Eurasian intergovernmental council meeting.
  • The CBR rate decision is the key risk event of the week on Friday. While most analysts polled think it will leave the key rate at 16%, some are expecting a hike of 50-100bps. Our full preview of that decision will be released later in the week.

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.