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TD Securities expects more Russian Central Bank rate hikes
According to TD Securities analysts, the Central Bank of Russia will decide once again to raise the discount rate by the end of 2018. "We did not expect such a courageous decision from the regulator on Friday, apparently the weakening of the ruble significantly spoiled the inflationary forecasts of the regulator." Apparently this is not a full increase in the rate this year. "We forecast another rise of 25 basis points.In summary, we forecast an increase in the discount rate by 25 basis points by the end of 2018 and an additional increase in early 2019. But later by the end of next year, the decrease in the discount rate may resume, "TD Securities added.
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