... exceeding 5–6%) will increase expectations that the Bank of Russia will continue raising the key rate at upcoming meetings – this may temporarily support the ruble but create pressure on the stock and bond markets due to the rising cost of borrowed funds. Conversely, if inflation slows or is below forecasts, this will be a positive surprise: the regulator will likely refrain from further tightening, which would be favorable for the OFZ and corporate sector. 21:00 (US) - FOMC Meeting Minutes (July): ...