Russian FX/Rates - CBR Preview - Chartpack
> According to our CBRV model, a 75 bp hike this month appeared likely even before January's disappointing data. > Seasonally adjusted, core inflation accelerated in January, returning to the levels seen in September-October 2021.> Households' 1y inflation expectations remained above the historical median for an eighth straight month in January, while business inflation expectations jumped. > Despite the tightening already delivered, some lending segments did surprisingly well in December, with corporate loans and mortgages posting near-record growth. > We expect another 50 bp hike in March (though a 100 bp increase remains highly likely) and flat rates until 4Q22.
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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