The Russian stock market held a modest disadvantage
The Russian market is kept in modest negative territory on Friday. On the European sites there is vague dynamics, and oil prices fairly aggressive pullback that justifies the current behavior of the domestic indices. In the second half of day the index of RTS and Mosberg reduced by an average of 0.1%, reducing losses after a deeper drawdown earlier.
The Bank of Russia in today’s meeting the expected left interest rates unchanged at 7.75%. In a press release the Central Bank noted the slowdown in inflation and lower inflation expectations, expressing hope that in the first half of 2019, consumer prices will return to the 4% target level.
The ruble and Russian assets in General did not show significant reaction to the outcome of the meeting. The us dollar continued to trade with moderate increases, not daring to storm the mark of 65 rubles, despite the significant pullback in oil prices. Brent has accelerated the correction in the breakdown of the 100-hour moving average in the area of 73,60 dollars a barrel and violated the integrity level of $ 72 for the first week. Then the participants of the oil market will switch attention to the report of Baker Hughes on the number of active drilling rigs.
Expert, Academy of management Finance and investment