Russia Economics - Our View on the Key Rate in 2018-19
Ruble depreciation in August seems to have already started affecting inflation. Over the first 27 days of the month, the CPI increased by 0.1%, even though deflation is typical for August. As a result, we now expect inflation to end the year in a range of 3.5-4.0%, likely at 3.7%, up from our previous estimate of 3.2%. Higher inflation and increased pressure on the ruble lead us to expect that the key rate will remain unchanged at least until next summer.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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