The Central Bank of Russia announced on Friday that it cut its monetary policy rate by 150 basis points from 11% to 9.5%. In its statement, the central bank said it will consider the need for further rate cuts at its upcoming meetings. According to the Bank of Russia forecast, given the current monetary policy […]
Tag: USDRUB
Russian Central Bank cuts official interest rate by 300 basis points to 11%
The Central Bank of Russia announced on Thursday that cuts its official interest rate by 300 basis points, to 11% from 14%. In its monetary policy statement, the central bank has indicated that keeps open the prospect of additional rate cuts in its next meetings. Additional comments, via Reuters “The latest weekly data points to […]
We should be able to lower the key interest rate faster – Elvira Nabiullina
The Russian central bank governor Elvira Nabiullinahinted at a faster rate cut in his Monday appearance. Featured Statements We should be able to lower the key interest rate faster. We would have to create conditions to make loans more affordable for the economy. Monetary policy tightening in 2021 and diversification of foreign exchange reserves helped […]
USD/RUB rebounds from one-month lows, climbs near 79.75
USD/RUB will end the week down 6.18%, despite Friday’s jump. Hostilities between Russia and Ukraine and peace talks continue, but at a slower pace. USD/RUB Price Forecast: The bulls broke out of the 200 DMA and pushed the pair 500 pips higher. The USD/RUB fell and reached a new monthly low at 75.6625, but is […]
Russian central bank keeps monetary policy rate unchanged at 20% as expected
The Bank of Russia announced on Friday that leaves the monetary policy rate unchanged at 20% as expected. Conclusions of the monetary policy statement “Inflationary risks have increased considerably and are now prevalent throughout the forecast horizon.” “On a longer horizon, the Russian economy faces considerable uncertainty“. “Annual inflation will return to 4% in 2024.” […]
USD/RUB soars to the 145.00 area
USD/RUB hits a new all-time high near 145.00. Geopolitics keeps the Russian currency under heavy pressure. The markets’ attention remains on the talks between Russia and Ukraine. The Russian ruble depreciates further against the dollar and raises the USD/RUB to new all-time highs near the 145.00 barrier at the start of the week. USD/RUB strengthened […]
Russian Central Bank (CBR) raises key rate to 20%, says ready for further action
The Russian central bank (CBR) raises the benchmark interest rate to 20%, in an unexpected move on Monday, as the ruble plunges to record lows. The Bank of Russia has said that “the rate hike is designed to offset increased risks of ruble depreciation and inflation“. The central bank has added that it is “ready […]
USD/RUB drops to 81.60 and then bounces back
USD/RUB remains well defensive on RUB gains. Geopolitical nerves mitigate likely negotiation talks. US core PCE rose more than expected in January. russian currency keeps the supply bias unchanged so far on Friday and now trails the USD/RUB below 82.00, only to bounce back a little later. USD/RUB Weaker as Risk Appetite Improves USD/RUB extended […]
USD/RUB jumps to 78.80 and gains almost 2% on rising tensions in Eastern Europe
The USD/RUB has gained 6.44% in the last three days. Separatist leaders sought recognition from Russian President Putin, which could undermine talks between Russian and US officials. USD/RUB Technical Outlook: Escalating conflict could fuel a jump to 80.41, followed by 80.95. The USD/RUB It is up 1.54% during the American session, trading at 78.81 at […]
Central Bank raises monetary policy rate by 100 bps to 8.5% as expected
The Central Bank of Russia announced on Friday that it raised its monetary policy rate by 100 basis points to 8.5% from 7.5%. The decision was in line with expectations. The ruble did not show major variations after the decision was known. “If the situation unfolds according to the baseline forecast, the Bank of Russia […]