Anna Kiyutsevskaya

Alfa

Senior Analyst @ Alfa

Anna Kiyutsevskaya
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Latest articles from Anna Kiyutsevskaya

Russia central bank keeps rate on hold; hawkish wording

CBR stayed on hold at 4.25%, but continues to tighten the wording of the release: The CBR kept its key policy rate unchanged at 4.25% today in line with the market consensus. Annual food price inflation has thus jumped to 5.8% y/y. The tighter wordin...
Alfa Natalia Orlova
Natalia Orlova @ Alfa 18 December 2020
Russia central bank: Hawkish wording, but 2021 inflation forecast remains biased
Russia central bank: Hawkish wording, but 2021 inflation forecast remains biased

Russia central bank mulling rate cut, but prepared for further pause

CBR stayed on hold at 4.25%, but the tone of the release is slightly more hawkish: The CBR kept its key policy rate unchanged at 4.25% today, in line with the expectations of 33 analysts out of 40 polled by Bloomberg. The headline paragraph of the re...
Alfa Natalia Orlova
Natalia Orlova @ Alfa 23 October 2020

Russia 9M 20 macro stats: Sliding deeper instead of rebounding

The weakness in retail and production patterns, which disappointed in August, intensified in September, manifesting in a 3.0% y/y contraction in retail trade and a 5.0% y/y contraction in industrial production. As the CBR has limited options to cut t...
Alfa Natalia Orlova
Natalia Orlova @ Alfa 21 October 2020

Russia 2Q20 GDP shows upside surprise for investments and exports

Russia’s 2Q20 GDP contraction not as deep as 2Q09: We now have details of the 2Q20 consumption and investment performance, which enables us to compare this crisis at the peak of the economic contraction with the two previous crises, one of 2009 and t...
Alfa Natalia Orlova
Natalia Orlova @ Alfa 7 October 2020
Russia 2Q20 GDP breakdown – Investments and exports surprise on the upside
Russia 2Q20 GDP breakdown – Investments and exports surprise on the upside

Alfa Macro Insights: Russia's 8M20 stats show mixed picture

August retail trade disappointed with a 2.7% y/y contraction: We had expected the closure of international borders would be favorable for a faster recovery in local consumption, however our expectation of a 0.1% y/y increase in retail trade for Augus...
Alfa Natalia Orlova
Natalia Orlova @ Alfa 21 September 2020
Alfa Macro Insights: Russia's 8M20 stats show mixed picture
Alfa Macro Insights: Russia's 8M20 stats show mixed picture

Russia rate policy: Guidance implies taking a pause

CBR stayed on hold at 4.25%: The CBR kept its key policy rate unchanged at 4.25% today, delivering on the market’s expectations. A pause on 23 October is our base scenario: There are two certainties which could be extracted from today’s release. We t...
Alfa Natalia Orlova
Natalia Orlova @ Alfa 18 September 2020
Russia rate policy: Guidance implies taking a pause
Russia rate policy: Guidance implies taking a pause

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Anna Kiyutsevskaya
Russia
Europe/CIS
Macro-strategy
Natalia Orlova
Fixed Income - Sovereign
Russian
CBR
Macro
2020
Europe
Equity
Rosstat
2Q20

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