Promsvyazbank sees cbank’s key rate at 7.75%, oil price $63 ‘19

MOSCOW, Dec 19 (PRIME) -- Russia’s the central bank’s key rate to remain flat at 7.75% in 2019 and the average oil price at U.S. $63 per barrel, Promsvyazbank analysts told reporters on Wednesday.

Russia’s gross domestic product (GDP) growth will expand 1.3%.

The ruble rate against the U.S. dollar can reach 63–64 by March 2019 and slide further to 70 later in 2019.

Inflation can hit 5.6% in January–March, then peak at 5.8% and start to slow down.

The combined net profit of the banking sector will amount to 1.7 trillion rubles, including banks undergoing bailouts, and 2 trillion rubles without them.

(66.7454 rubles – U.S. $1)

End