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The Russian economy is expected to expand by 2-2.5% in the first quarter of 2020, the Central Bank of the Russian Federation said on Monday, per Reuters.

The bank further added that it expects smaller annual investments by foreigners into Treasury bonds in 2020-2022 and noted that spending on national investment and infrastructure projects could create additional inflationary pressure in 2020.

USD/RUB reaction

The USD/RUB pair ignored these comments and was last seen trading at 64.4728, down 0.13% on a daily basis.