Analysts at BBH have assessed the recent stance by the Russian central bank.
“Russia’s central bank tilted a bit more dovish. GovernorNabiullina said an improving inflation outlook will allow the bank to undertake steeper monetary easing without putting financial stability at risk”.
“Still, she cautioned that one-off factors were largely responsible for the recent slowdown of inflation”.
“The next policy meeting April 29 may be too soon to start the easing cycle”.
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