Anna Kiyutsevskaya

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...

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...

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...

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. ...

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...

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...