... market currencies had a less fortunate week. Amid dollar strengthening and declining interest rates within certain countries, some EM currencies depreciated. The Russian ruble faced moderate pressure following the Central Bank of Russia's decision to cut rates. The official dollar exchange rate set by the Bank of Russia for the weekend rose to approximately 79.5 ₽ (up from ~78.9 ₽ the previous week). The decline in yields on ruble-denominated assets made them less attractive; additionally, importers ...

... focused on monetary policy: China, facing deflationary risks and an economic slowdown, will announce its Loan Prime Rate (expected to remain at a record low of 3.0% following previous easing measures), while the Reserve Bank of New Zealand is expected to cut rates to support its slowing growth. In Europe, fresh inflation data will be in the spotlight: the consumer price growth rates in the UK and Eurozone for July will reveal how close regulators are to their target levels (the Eurozone indicator is already ...

... beginning of a new cycle of monetary policy easing. Economists and financial market experts anticipate that this measure will stimulate lending growth, improve the mortgage market, and negatively impact inflation in Russia. What are the implications of this rate cut for Russia's GDP and the Central Bank's forecasts for 2025? In this article, we will examine how this decision will affect economic stabilization, as well as analyze current macroeconomic indicators and future steps of the Central Bank in the context ...

... most crucial datasets will be the US PMIs and the block at 17:00 – they will be released almost simultaneously, likely spurring a spike in volatility. If data shows a slowdown in both services and manufacturing, investors may begin to price in a Fed rate cut sooner than anticipated, immediately reflected in rising stocks and a falling dollar. Conversely, resilient figures (especially in the services sector) will urge markets to remain cautious: the Fed may have to maintain a stricter stance for a longer ...

... and expectations worsen. Conversely, an unexpected increase in the index could provide a positive surprise for markets, potentially bolstering the euro and European company stocks. 13:30 MSK – Central Bank of Russia's decision on the key interest rate. The day's main intrigue for the Russian market. Following an unexpected 100 bps cut in June (to 20% per annum), most analysts anticipate another reduction of approximately 1 pp, to 19.00%. Inflation is slowing (to around 7–8% YoY), the ruble remains relatively strong, and weak domestic demand creates conditions for easing monetary ...