Rate Doves Circling Above Russia as Easing Bets Surge: Chart

Russia's Central Bank Keeps Benchmark Rate Unchanged

Derivatives traders haven’t been this convinced that the Bank of Russia is on the verge of resuming interest-rate cuts since November. Forward-rate agreements show wagers for an 83 basis-point reduction in borrowing costs in the next three months, more than the 30 basis points of easing seen by economists in the period. Policy makers meet Friday to review the key rate, currently at 11 percent.

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