At today’s meeting, the Russian central bank (CBR) left its key rate unchanged at 7.50%. According to Vladimir Miklashevsky, Senior Economist, at Danske Bank, the CBR’s tone remains inclined towards hawkishness, seeing 2019 CPI above the 4% target. They believe that deteriorating external conditions could trigger a hike in December 2018. Key Quotes: “The CBR kept its key rate at 7.50% on 26 October. It continues to reinforce its hawkish stance, which was taken in April 2018 after the new sanctions hit the RUB. Reading the CBR’s latest statement on the decision, we find the tone to be more hawkish than after the September 2018 meeting, as external uncertainty may hit domestic markets at any time.” “The CBR remains positive on economic growth, seeing no risk from the current rates on the bank’s own projections on Russian GDP growth (1.2-1.7% in 2019 while we expect a 1.3% expansion).” “The CBR sees pro-inflationary risks staying up, arising from geopolitics, global monetary tightening and EM outflows. However, the CBR’s estimate of risks linked to consumer and oil prices remains moderate, reiterated from the previous statements and justifying today’s no-hike decision.” “The RUB’s immediate reaction to the expected decision was slightly negative, rebounding very quickly. We see an increased risk of a 25bp hike on 14 December 2018, if the US introduces new anti-Russia sanctions hitting the new government debt and/or the banking sector. Geopolitical factors are set to dominate the monetary policy agenda in the near future.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Turkey: Challenging times ahead to be tackled with policy determination – BBVA FX Street 4 years At today's meeting, the Russian central bank (CBR) left its key rate unchanged at 7.50%. According to Vladimir Miklashevsky, Senior Economist, at Danske Bank, the CBR's tone remains inclined towards hawkishness, seeing 2019 CPI above the 4% target. They believe that deteriorating external conditions could trigger a hike in December 2018. Key Quotes: "The CBR kept its key rate at 7.50% on 26 October. It continues to reinforce its hawkish stance, which was taken in April 2018 after the new sanctions hit the RUB. Reading the CBR's latest statement on the decision, we find the tone to be more… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.