OREANDA-NEWS At the beginning of the trading day on Friday, July 3, the Russian stock market continued to fall on Thursday, July 2, approaching multi-year lows. The Moscow Exchange index reached 2,215 points, according to the site's data.

This is close to the 2203 points to which the index fell on June 26, which was the lowest value since February 2023. If the dynamics do not change radically by the end of Friday, then the outgoing week will be the 17th in a row, during which the stock market will decline. There has never been such a situation in the history of the Moscow Stock Exchange.

Experts call the complete dominance of the negative background the main reason for the pessimistic investor sentiment. We are talking about the lack of negotiations to stop the fighting in Ukraine, the fall in world oil prices and the understanding that the reduction in the key interest rate will slow down rather than accelerate.

The situation with gasoline adds to the nervousness of market participants. If it is not possible to solve the problems with local deficits in the near future, the difficulties of the fuel market will affect inflation, and this may force the Central Bank not to suspend the rate cut, but to raise it.

Earlier, experts revised their forecast for the key rate level in 2027. Instead of 8-10 percent, they expect 10-13 percent.