• rouble basket band raised to 39.20-48.20
  • another $2.8bln worth of intervention

Rouble falling again today (7th day on the run), down 0.6% pushing the basket up to 48.6320 so we must expect another hike in the corridor

Pressure still on ahead of the CBR’s interest rate decision tomorrow when many analysts see a 50 bp hike to try and help shore up the defence