In February meeting, the Central Bank of Russia lowered its interest rate by 25 bps to 6%. policymakers hinted that there will be further more rate cut in the near future. Despite of Coronavirus, the Russian inflation is strong.
Bearish for USD/RUB.
In this global pandemic situation Russia is the only country who suffers not so like others. Though globally everyone is the loss bearer. I am expecting Russian central bank will decrease the interest rate in favour of worldwide demand. Where other countries like USA decrease their interest rate to almost zero. I think Russia will take a wise decision.
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