The MOEX rose 8 points, or 0.3% to 2,642 on Friday, following a 0.1% gain in the previous session, after the governor Elvira Nabiullina signaled Russia’s Central Bank could cut interest rates by 100bps to 4.5% at its June 19th policy meeting. This would bring borrowing costs to its lowest on record and markets were only anticipating that to happen at the end of the year. At the same time, oil prices continued to show a moderate gain, with the benchmark Brent crude trading around $30 a barrel. Still, for the week, the MOEX lost 0.3%, as Russia became the fifth most-affected country by the coronavirus pandemic. The Russian markets will be closed for three days until May 12th to commemorate Victory day. Historically, the MOEX Russia Index reached an all time high of 3226.89 in January of 2020. The MOEX Russia Index (known as MICEX Index until December of 2017) is a major stock market index which tracks the performance of the 50 largest and most liquid Russian companies from 10 main economy sectors, listed on The Moscow Stock Exchange. It is a capitalization-weighted composite index. The MOEX has a base value of 100 as of September 22, 1997.