The further fall in Russian inflation to 2.3% y/y in February leaves the door open for the central bank to continue its easing cycle this month. Although market expectations for easing have been pared back since the coronavirus outbreak as the ruble has come under pressure, we think that another two 25bp interest rate cuts at the next couple of meetings are still more likely.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.