April 29, 2022 - 04:17 PM 286 views
Today, the consensus anticipates a 200 bps Russian rate cut.
Besides, the Forex market (FX) will keep an eye on the central bank to release
the capital controls, which will keep a high depreciation pressure on the
rouble currency, as stated by the economists in the ING report.
light of the rouble's strength, it will be interesting to observe if the
central bank relaxes any capital regulations.
The Russian central bank is widely expected to cut interest rates
by 200 basis points to 15% by today. As the USD/RUB is trading at an
artificially low 72, the interest rate cut is expected now. This is not forced
by any natural buyers and it continues selling the energy foreign market (FX)
There is no change anticipated in control of the foreign community,
but it propelled the foreign market (FX) sales for the Russian export
community. Recently, it has been allured.
relaxing of rules for domestics could cause the rouble to weaken, indicating
that Russian authorities want the rouble to be weaker for fiscal reasons."