Russian CB out with latest decision 23 March
- will continue key rate cuts
- monetary conditions continue to ease
- will end shift to neutral stance this year
- CPI expectations significantly exceed target
- will place emphasis on labour market
- annual CPI slowdown to continue in 2019
- economy's sensitivity to oil has decreased
- 2018-20 GDP to grow by 1.5-2.0%
- annual CPI seen at 3-4% by year end, close to 4% in 2019
RUB and equities liking the news initially but fading now.