Bank of Russia expects GDP decline by 0.5% yoy in 1Q — revised forecast

The Bank of Russia has revised its forecast, now expecting a GDP decline of 0.5% year-over-year for the first quarter. This outlook reflects concerns over economic performance, impacting investor sentiment and risk appetite towards Russian assets. The anticipated contraction may influence capital flows away from Russian equities and bonds, as investors reassess the economic outlook amid potential geopolitical risks. Traders will be particularly focused on upcoming economic data releases, including industrial production figures, which could provide further insight into the trajectory of the Russian economy.

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