Anna Kiyutsevskaya

Alfa

Senior Analyst @ Alfa

Anna Kiyutsevskaya
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Latest articles from Anna Kiyutsevskaya

Russia central bank: Hawkish tone promises more rate hikes

CBR key policy rate hiked 25bps to 4.5%: After maintaining the key policy rate at 4.25% since July 2020, the CBR came with the first hike today, lifting the key rate 25bps to 4.5%. We thus believe that the two important triggers of today’s rate decis...
Alfa Natalia
Natalia Orlova @ Alfa 19 March 2021
Russia central bank: Hawkish tone promises more rate hikes
Russia central bank: Hawkish tone promises more rate hikes

Russia central bank keeps rate unchanged, but communique very hawkish

CBR stays on hold at 4.25%, but communique very hawkish: The key policy rate was kept on hold by the central bank in line with the market consensus – in a Bloomberg poll all analysts expected the CBR to pause today. Thirdly, the spike in inflation to...
Alfa Natalia
Natalia Orlova @ Alfa 12 February 2021
Russia central bank keeps rate unchanged, but communique very hawkish
Russia central bank keeps rate unchanged, but communique very hawkish

Russia central bank: Hawkish wording, but 2021 inflation forecast remains biased

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
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

Sistema: 3Q20 results expectedly firm: positive changes on the dividend front delayed

AFK Sistema (AFKS RX, SSA LI; N/R) released its 3Q20 results, which came 3.5-5.0% above consensus (Interfax) estimates on the top-line and OIBDA. 3Q20 group level results came slightly above consensus. CC’s net debt was RUB166bn, decreasing 13% q/q. ...
Alfa Anna
Anna Kiyutsevskaya @ Alfa 3 December 2020

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
Natalia Orlova @ Alfa 23 October 2020

Russia macro stats: 9M 20 — 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
Natalia Orlova @ Alfa 21 October 2020

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Anna Kiyutsevskaya
Russia
Natalia Orlova
Macro-strategy
Europe
Fixed Income - Sovereign
Europe/CIS
Macro
CBR
Russian
2020
Equity
April
2021