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MOEX Index exceeds 2,600 points first since December 2 — trading data

Contrary to analysts' forecasts, the Bank of Russia decided to keep the key rate at 21% per annum

MOSCOW, December 20. /TASS/. Russia’s stock market rallied sharply amid the Central Bank’s decision to keep the key rate at 21% per annum, with the MOEX Index having exceeded 2,600 points for the first time since December 2, according to the Moscow Exchange trading data.

In particular, before the regulator’s decision was released the MOEX Index was up by 1.44% at 2,451.23 points, while the RTS was up by 1.44% at 746.65 points, according to trading data as of 1:25 p.m. Moscow time (10:25 a.m. GMT).

As of 3:34 p.m. Moscow time (12:34 p.m. GMT), the MOEX was up by 7.63% at 2,600.88 points, while the RTS was up by 7.63% at 792.23 points. By 3:55 p.m. Moscow time (12:55 p.m. GMT), the MOEX had slightly narrowed gains to 7.45% reaching 2,596.45 points, while the RTS was up by 7.45% at 790.88 points.

Russian Government Bond Index (RGBI) has surpassed 100 points first since November 19, 2024 amid the Central Bank’s decision, according to the Moscow Exchange trading data. As of 1:54 p.m. Moscow time (10:54 a.m. GMT) the RGBI Index was up by 0.82% at 100.04 points. By 1:55 p.m. Moscow time (10:55 a.m. GMT) the index had extended gains to 2.85% reaching 102.06 points.

Contrary to analysts' forecasts, the Bank of Russia decided to keep the key rate at 21% per annum, but noted that it would assess raising the rate at the next meeting.