Governor Elvira Nabiullina said two more rate cuts were possible this year if the central bank does not face “any negative surprises.”Even though the rate decision was widely expected by the market, the rouble climbed to three-week highs against the dollar on expectations of further rate cuts.
“If the situation develops in line with the baseline forecast, the Bank of Russia admits the possibility of further key rate reduction at one of the upcoming Board of Directors’ meetings and a transition to neutral monetary policy until mid-2020.” Capital Economics research firm said it expected the key rate to be lowered to 6.75 per cent by mid-2020.The central bank boosted expectations for a rate cut by lowering its 2019 economic growth forecast to 1.0 per cent to 1.5 per cent from 1.2 per cent to 1.7 per cent.
globebusiness WELL I GUESS THAT 'HUMAN RIGHTS ABUSING!!''WORLD+MILITARY DOMINATION=WORLD AS SLAVES-CHINA NEW WORLD ORDER(RUSSIA APPROVED-KOWTOWS TO CHINA!!)' COMMUNIST CHINA 'BLOOD MONEY!!' IS HELPING RUSSIA'S ECONOMY ALONG WITH RUSSIA BUSINESS WITH SYRIA IRAN ETC ETC!!