... Russia’s CPI data will indicate inflationary pressures within the domestic market. High inflation could prompt tighter monetary policy by the Central Bank of Russia, affecting the ruble and potentially influencing Russian equities sensitive to interest rates. Brazil Central Bank’s Economic Activity Index (September) — Published at 13:00 GMT Brazil’s economic activity index is a proxy for GDP. Positive data may support the Brazilian real and boost local market sentiment, while weaker activity could affect investor confidence ...

... continues to come from still high oil prices, foreign currency sales by the Ministry of Finance (including yuan from reserves under the budget rule), as well as a high key interest rate from the Central Bank of Russia. The recent reduction of the key rate by the Central Bank to 18% per annum has slightly eased financing conditions; however, the level remains elevated. High rates make ruble assets more attractive for investors and help to curb capital outflows while simultaneously cooling credit activity and imports. ...

... capital. However, there are several scenarios that may develop depending on the further dynamics of the economic situation: Rate reduction in case of economic stabilization. If inflation begins to slow down and the economic situation stabilizes, the Central Bank may begin to lower the rate. This may give impetus to the IPO market and increase liquidity in the stock market. Activation of companies when rates are lowered. In the event of a rate reduction, companies that have postponed their IPO may quickly become active in order to take ...

... benefit from both higher fee income and potentially lower credit risks – higher incomes make it easier for borrowers to repay debt. The shares of major Russian banks could thus show solid performance on this fundamental backdrop. However, when the Central Bank’s rates are extremely high, credit activity can slow temporarily. As monetary policy normalizes (projected by 2026–2027 as inflation abates), the banking sector should be well-positioned, benefiting both from clients’ higher incomes and from lower funding ...

... rates remain high, be prepared for larger monthly payments. Await Potential Changes. It's crucial to stay updated on news and anticipate the potential revival of preferential programs. Banks may revise their conditions if the market stabilizes and the Central Bank resumes lowering rates. Assess Additional Costs and Opportunities. Explore the possibility of sourcing funds from other avenues, such as subsidies, government grants, or saved funds. This can help reduce the loan amount and lower repayment burdens. Prospects for the Mortgage ...