News just out from Russia 24 March

  • Q2-Q3 could see further gradual easing
  • risk that inflation will miss the 4% target by the end of 2017 have slightly abated
  • inflation slowdown overshoots the f/cast
  • inflation expectations continue to decline and economic activity recovers
  • still risks that inflation may fail to anchor at the target level in the medium run
  • moderately tight mon pol will allow to limit their effects and maintain consumer growth rates close to 4%
  • pace of economic recovery higher than expected
  • seeing signs of consumption recovery

Generally upbeat assessment sees USDRUB a tad lower