Russia Seen Leaving Main Rate Unchanged as Ruble Rebounds - Bloomberg

Russia Seen Leaving Main Rate Unchanged as Ruble Rebounds - Bloomberg:



"Russia’s central bank, which has raised borrowing costs twice in 2014, will probably leave its main interest rate unchanged with inflation set to peak this month and the ruble recovering from a five-year low.



Policy makers will leave the benchmark one-week auction rate at 7.50 percent today, according to all 27 economists in a Bloomberg survey. The bank is due to announce the decision at about 1:30 p.m. in Moscow, to be followed by a news conference.



Russia’s central bank, led by Chairman Elvira Nabiullina, has raised the benchmark by 200 basis points since February as a standoff with the U.S. and its allies over Ukraine intensified. The effort has stemmed declines in the ruble triggered by the threat of wider economic sanctions, making the currency the best performer in emerging markets since the April 25 rate move."



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