net_left adver left

Russian central bank trims key rate to 7.5%, does not signal further cut

Saturday, September 17, 2022
Russian central bank trims key rate to 7.5%, does not signal further cut © Reuters. FILE PHOTO: National flag flies over the Russian Central Bank headquarters in Moscow, Russia May 27, 2022. REUTERS/Maxim Shemetov

By Andrey Ostroukh

MOSCOW (Reuters) -Russia's central bank cut its key interest rate by 50 basis points to 7.5% on Friday as inflation slows and the economy needs cheaper lending to limit a slump, but did not repeat recent guidance that it would study the need for further cuts.

It was the fifth scheduled board meeting where the rate has been cut this year. In the immediate aftermath of Moscow's despatch of armed forces into Ukraine on Feb. 24, the central bank had hiked its key rate to 20% from 9.5% in order to mitigate risks to financial stability.

The 50-basis-point cut was in line with a consensus forecasts of analysts polled by Reuters earlier this week.

The central bank omitted forward-looking rate guidance from the statement, saying that the inflation expectations of households and businesses remained elevated. This suggests the likelihood of another rate cut has declined.

"There is no direct signal in today's press release. And this is a clear indication that the rate-cutting cycle may be over," said Evgeny Suvorov, an economist at CentroCreditBank.

The central bank said will take into account actual and expected inflation dynamics along with risks posed by domestic and external conditions and the reaction of financial markets when making next rate-setting decision.

The rouble showed limited reaction to the rate move, hovering near 60 against the dollar.

Inflation stood at 14.1% as of Sept. 9 and is on track to finish this year in a range of 11-13%, the central bank said. It reiterated its hope that inflation would slow to 5-7% in 2023.

The central bank said a tighter monetary policy could be needed to bring inflation to the 4% target in 2024 if Russia's budget deficit expands.

"It cannot be ruled out that the central bank will start raising rates as early as in the first half of next year," said Suvorov from CentroCreditBank.

High inflation dents living standards and has for years been one of Russians' main concerns. However, the economy currently needs stimulation in the form of cheaper credit to address the negative effects of sweeping Western sanctions imposed in response to Russia's intervention in Ukraine.

The central bank maintained its forecast for a 4-6% economic contraction this year but said the decline in gross domestic product may be closer to 4%. In late April, it had expected GDP to shrink 8-10%.

Central bank governor Elvira Nabiullina will shed more light on the bank's forecasts and policy in a media briefing at 1200 GMT.    The next rate-setting meeting is scheduled for Oct. 28.

Leave your comment
HOT AUTO TRADE BOT SOFTWARE adver right
APPROVED BROKERS
net_home_top HOT AUTO TRADE BOT SOFTWARE
03-10-2022 17:22:49 (UTC+7)

EUR/USD

0.9779

-0.0020 (-0.20%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (0)

EUR/USD

0.9779

-0.0020 (-0.20%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (0)

GBP/USD

1.1200

+0.0040 (+0.36%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (0)

USD/JPY

145.09

+0.34 (+0.23%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (2)

AUD/USD

0.6449

+0.0047 (+0.73%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (1)

USD/CAD

1.3765

-0.0061 (-0.44%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

EUR/JPY

141.88

+0.04 (+0.03%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (9)

Sell (0)

EUR/CHF

0.9682

+0.0011 (+0.12%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (6)

Sell (2)

Gold Futures

1,672.25

+0.25 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Silver Futures

19.363

+0.324 (+1.70%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (3)

Copper Futures

3.3705

-0.0420 (-1.23%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Crude Oil WTI Futures

82.77

+3.28 (+4.13%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (9)

Brent Oil Futures

88.50

+3.36 (+3.95%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

Natural Gas Futures

6.636

-0.130 (-1.92%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (2)

US Coffee C Futures

220.73

-0.82 (-0.37%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (10)

Sell (1)

Euro Stoxx 50

3,289.85

-28.35 (-0.85%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (5)

S&P 500

3,585.62

-54.85 (-1.51%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

DAX

12,030.62

-83.74 (-0.69%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (2)

FTSE 100

6,848.10

-45.71 (-0.66%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (2)

Sell (5)

Hang Seng

17,079.51

-143.32 (-0.83%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

1,667.27

-7.66 (-0.46%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (6)

IBEX 35

7,344.42

-22.38 (-0.30%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

BASF SE NA O.N.

40.193

+0.593 (+1.50%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (3)

Bayer AG NA

47.55

+0.14 (+0.30%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (0)

Sell (8)

Allianz SE VNA O.N.

160.06

-1.74 (-1.08%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Adidas AG

116.52

-2.36 (-1.99%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (3)

Deutsche Lufthansa AG

5.601

-0.317 (-5.36%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Siemens AG Class N

98.41

-2.79 (-2.76%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (5)

Deutsche Bank AG

7.396

-0.250 (-3.27%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

 EUR/USD0.9779↑ Buy
 GBP/USD1.1200↑ Buy
 USD/JPY145.09Neutral
 AUD/USD0.6449↑ Buy
 USD/CAD1.3765↑ Sell
 EUR/JPY141.88↑ Buy
 EUR/CHF0.9682Neutral
 Gold1,672.25↑ Buy
 Silver19.363↑ Buy
 Copper3.3705↑ Buy
 Crude Oil WTI82.77↑ Sell
 Brent Oil88.50↑ Sell
 Natural Gas6.636Neutral
 US Coffee C220.73↑ Buy
 Euro Stoxx 503,289.85Neutral
 S&P 5003,585.62↑ Sell
 DAX12,030.62Neutral
 FTSE 1006,848.10Neutral
 Hang Seng17,079.51↑ Buy
 Small Cap 20001,667.27↑ Sell
 IBEX 357,344.42Sell
 BASF40.193↑ Buy
 Bayer47.55Neutral
 Allianz160.06↑ Buy
 Adidas116.52Neutral
 Lufthansa5.601↑ Sell
 Siemens AG98.41Sell
 Deutsche Bank AG7.396↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,540/ 6,620
(30/ 10) # 1,804
SJC HCM6,520/ 6,620
(-20/ -20) # 1,803
SJC Hanoi6,520/ 6,622
(-20/ -20) # 1,805
SJC Danang6,520/ 6,622
(-20/ -20) # 1,805
SJC Nhatrang6,520/ 6,622
(-20/ -20) # 1,805
SJC Cantho6,520/ 6,622
(-20/ -20) # 1,805
Cập nhật 03-10-2022 17:22:51
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,663.43-0.88-0.05%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V22.12022.560
RON 95-III21.44021.860
E5 RON 92-II20.73021.140
DO 0.05S22.20022.640
DO 0,001S-V24.18024.660
Dầu hỏa 2-K21.68022.110
ↂ Giá dầu thô thế giới
WTI$82.33-0.7-0.86%
Brent$88.15-0.54-0.62%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.730,0024.040,00
EUR22.844,1424.122,55
GBP25.913,3127.017,45
JPY160,53169,94
KRW14,3417,48
Cập nhật lúc 16:19:56 03/10/2022
Xem bảng tỷ giá hối đoái
adver main right