What should an investor keep an eye on this week

The key rate meeting will be the main event of the week. According to forecasts of analysts interviewed by Izvestia, the regulator may lower it to 18%. The softening of the regulator's policy may lead to an outflow of funds from deposits in stocks, as well as affect the value and profitability of bonds.

On Monday, July 21, the leasing operator Europlan, the metallurgical company Severstal and the producer of non-ferrous metals Norilsk Nickel will publish the operating results for the first half of the year, BCS Mir Invest reported. A meeting of the board of directors of the chemical enterprise Nizhnekamskneftekhim will be held on the same day, Finam said. Events can affect the share price of these companies.

On July 23, Rosstat will release weekly inflation data, Cifra Broker said. This may affect the Central Bank's future decision on the key rate.

On Thursday, July 24, the energy company RusHydro will publish its operating results for the first half of the year, Finam said. In addition, Rostelecom will hold a shareholders' meeting, where it will consider the issue of paying dividends, BCS Mir Invest reported.

On Friday, the energy company TGC-1 will present its financial statements for the first six months of 2025, Finam said.

Closed for key: business reduced investments in projects with capital investment protection by 1.5 times

Despite the tax benefits, companies are in no hurry to channel money into long-term development due to high rates.

If the Central Bank decides to lower the key rate on July 25, the RGBI government bond index may respond by rising to a range of 117.5–119 points.

The ruble exchange rate will move in the range of 78-80 per dollar, 90-92 per euro and 10.8–11 per yuan with the support of the tax period, the Digital Broker predicts. The Moscow Exchange index is likely to aim for the level of 2,800 points.