Russian rouble hits one-month high after central bank holds rates

All 26 analysts polled by Reuters this week expect the Bank of Russia to keep interest rates unchanged, with the gradual slowdown of inflation preventing the central bank from easing borrowing costs more quickly. The bank said inflation would return to its 4% target more slowly than previously forecast. The rouble-based MOEX Russian index was 0.1% higher at 3,443.5 points.

The Russian rouble firmed to a one-month high past 92 to the dollar on Friday after the central bank held interest rates at 16%, as expected, and slightly worsened Russia's inflation outlook.

By 1048 GMT, the rouble was 0.1% stronger against the dollar at 91.86, its strongest since March 27. All 26 analysts polled by Reuters this week expect the Bank of Russia to keep interest rates unchanged, with the gradual slowdown of inflation preventing the central bank from easing borrowing costs more quickly.

The bank said inflation would return to its 4% target more slowly than previously forecast. The rouble had gained 0.2% to trade at 98.49 versus the euro and shed 0.2% against the yuan to 12.62 .

Brent crude oil, a global benchmark for Russia's main export, was up 0.6% at $89.53 a barrel. Russian stock indexes were higher.

The dollar-denominated RTS index was up 0.2% to 1,180.8 points. The rouble-based MOEX Russian index was 0.1% higher at 3,443.5 points. For Russian equities guide see

For Russian treasury bonds see

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