Bank of Russia meeting preview: time for bolder moves?
We do not rule out that the key rate may reach the 6.75-7% range by the end of the year. In such a scenario, it is increasingly likely that further rate hikes will go beyond 50 bps. In other words, a bigger 100 bps hike (to 6.5%) accompanied by «hawkish» rhetoric looks quite probable at the nearest core meeting this week.However, this scenario has already been priced in.
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