The Bank of Russia today decided to lower the refinancing rate from 8.75% to 8.50%, noting that "the basis for the reduction of interest rates served as a favorable dynamics of consumer price index and the lack of ... in the foreseeable future significant risk of rising inflation and excess of its official forecast for 2010 . Currency strategists HSBC, commenting on the event, noted that the inflation data really looks weak, and support for the measure, while the bank expected further easing of monetary policy, predicting a reduction in the amount of the refinancing rate at 1.50% to 7.00% and the rate of one-day repo to 5.75% to 5.00% - 5.25%. At HSBC adhere to the forecast for the dollar / ruble at 31.40 at the end of the first quarter, predicting a decrease to 30.10 by the end of the second.
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