Russia’s central bank is expected to remain cautious and hold interest rates steady on Friday despite a more positive trend in both commodity and currency markets that could give Russia reasons to be cheerful.
The central bank is expected to keep rates at 11 percent when it announces its decision at 10:30 London time, according to analysts polled by Russian news agency TASS.
The decision comes at a time of renewed hope for Russia’s beleaguered economy and businesses with oil and other commodity prices showing tentative signs of recovery. Despite reasons to be cheerful, however, analysts cited by TASS noted that the case for holding rather than cutting rates was not clear cut, however, and the central bank did not rule out increasing rates last month.
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