Page 74 - RusRPTFeb19

currency purchases for the Ministry of Finance under the budget rule, which could push up the ruble to 63-65 per USD in 1Q if world markets' appetite for risk settles. Analysts largely assume that oil between $50-65 a barrel will be "neutral" for the ruble's value, but watch for a larger drop if bad demand news breaks. The US Fed key rate was raised 25 basis points on December 19. Keep an eye on a further key rate increase in 2H.
74 RUSSIA Country Report February 2019 www.intellinews.com