19 Jun 2015
Further easing expected by the CBR – BBH
FXStreet (Edinburgh) - The research team at BBH believes the Russian central bank could ease further following the extension of the EU sanctions against the country.
Key Quotes
“The EU sanctions on Russia will be extended for another six months”.
“Russia then said it would extend its EU food import ban for another six months in retaliation”.
“Central bank First Deputy Governor Tulin said that he expects sanctions on Russia to remain in place until 2018, while Finance Minister Siluanova said that extended sanctions are assumed in all of the ministry's forecasts”.
“Data this week were poor. When all is said and done, we think the central bank continues easing after saying this week that the scope to do so was "limited" after it cut rates by the expected 100 bp”.
Key Quotes
“The EU sanctions on Russia will be extended for another six months”.
“Russia then said it would extend its EU food import ban for another six months in retaliation”.
“Central bank First Deputy Governor Tulin said that he expects sanctions on Russia to remain in place until 2018, while Finance Minister Siluanova said that extended sanctions are assumed in all of the ministry's forecasts”.
“Data this week were poor. When all is said and done, we think the central bank continues easing after saying this week that the scope to do so was "limited" after it cut rates by the expected 100 bp”.