CBR likely to cut key rate by 50bp on 30 October 2015

The CBR will resume its monetary easing after a pause in September 2015, as inflation acceleration has stopped after a marginal rise in August 2015 when Chinese woes weighed on the RUB and consumer prices. 

At the same time, the RUB posted 3.1% in spot returns against the USD in the 30 days to 28 October, gaining on better news from China and markets' expectations on a postponement to Fed hiking. 

"This Friday (30 October 2015), Russia's central bank (the CBR) will announce its monetary policy decision. The key rate is likely to be lowered by 50bp to 10.50%, while consensus is split between a 50bp cut and no change", says Danske Bank.