The ruble remained without surprises, the rate of the Central Bank of the Russian Federation has not changed
The Bank of Russia expected left monetary policy unchanged, the ruble is not expected to react to the results of the meeting of the regulator. The Central Bank kept rates at 7.75%, said that annual inflation in January was consistent with the lower limit of his expectations, and the contribution of the VAT increase in the annual growth of consumer prices in January was moderate. Recall that the annual growth rate of consumer prices last month increased to 5.0% from 4.3% in December.
The ruble after two days of losses trying to get rid of the pressure and holding steady around 66 to the dollar. Rally of the American currency by the end of the week stalled, which facilitates the position of the Russian currency. It is noteworthy that the ruble and domestic assets in General reserved to respond to external negative, which again raised a wave of concerns about the escalation of trade war between the US and China after sources in the trump virtually ruled out the possibility of a meeting of the two leaders to March 1.
As for the oil factor and its influence on the ruble is now too small. Quotes black gold feel insecure and, in fact, I don’t give clear signals, “Russian”, which is cautiously watching the dynamics of Brent. At the end of the week the price settled in the range of 61-62 a dollar per barrel. Growth continues to be hampered by worries about the global economy and trade relations between the two largest economies in the world.
In the short term is not expected sharp fluctuations in the ruble exchange rate and oil prices. In the absence of news investors will have to digest the available information and to prepare for negotiations, the U.S. and China, scheduled for next week.
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