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13 Mar 2015
CBR could ease further in the next meeting – TDS
FXStreet (Edinburgh) - Strategist Paul Fage at TD Securities sees the Russian central bank (CBR) lowering further its benchmark rates in the next meeting.
Key Quotes
“At today’s meeting of the Central Bank of Russia’s (CBR’s) Board of Directors the key rate was cut by 100 bps to 14%”.
“This move was in line with the Bloomberg consensus and our expectation of a 100-200 bps cut”.
“As long as the ruble remains reasonably firm then we expect further rate cuts from the CBR as the economy goes deeper into recession. We think the main risks to the ruble are a fall in oil prices and/or increased sanctions”.
Key Quotes
“At today’s meeting of the Central Bank of Russia’s (CBR’s) Board of Directors the key rate was cut by 100 bps to 14%”.
“This move was in line with the Bloomberg consensus and our expectation of a 100-200 bps cut”.
“As long as the ruble remains reasonably firm then we expect further rate cuts from the CBR as the economy goes deeper into recession. We think the main risks to the ruble are a fall in oil prices and/or increased sanctions”.