Putin Aide Who Called Shock Rate Cut Sees Pause Near $40 Oil

Andrey Belousov went largely unheeded the last time he forecast a shift in monetary policy. Now President Vladimir Putin’s top economic aide is lending weight to a growing consensus that Russia’s easing cycle is wearing out.

The central bank may pause its interest-rate cuts after five decreases this year if oil prices fall to $40 a barrel, Belousov said in an interview on Tuesday. Traders have started to predict a rate increase, with forward-rate agreements signaling borrowing costs will rise by 28 basis points in the next three months, according to data compiled by Bloomberg.