Central Bank of Russia may cut its policy rate by 100bp

After the EM currency sell-off, the ruble has recovered some of its losses and is up against the US dollar over the past month. 

This could likely to be the deciding factor behind the CBR's decision.

Capital Economics notes in a report on Thursday:

• We expect the Central Bank of Russia (CBR) to cut its benchmark one-week repo rate by 100bp (10.30 GMT).