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RUSSIA: MNI CBR Preview – September 2024: Room to Hold

RUSSIA
  • There is no clear consensus over the outcome of this month’s CBR meeting.
  • While rising inflation expectations could warrant an additional 100bp hike, economic activity data has shown early signs of slowing down, which should provide the central bank room to keep its key rate unchanged at 18% instead.
  • The Bank is widely expected to maintain its hawkish tone given the reiterated need for higher-for-longer rates.
  • See the full preview, with a summary of sell-side analyst views, here.

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