Commerzbank analyst Tatha Ghose expects the Russian central bank to keep its key rate at 14.0%, arguing that inflation fundamentals do not justify further easing despite weak growth. The call points to a pause rather than a cut at the upcoming decision, with building inflation risks cited as the reason the CBR is unlikely to loosen policy. Ghose's view rests on the gap between subdued growth and still-uncomfortable price pressures, which he says leaves no room for additional easing. The forecast keeps the focus on the central bank's next rate announcement and whether it holds at 14.0% as Commerzbank anticipates.
Commerzbank AGCommerzbank analyst Tatha Ghose's forecast of a CBR rate hold is the subject of the article, but it carries no clear positive or negative implication for Commerzbank itself.
