Russia's Forex Market: No Panic Outlook
Russian Economic Developments. Moscow, 2016, No. 1, pp. 7-9
3 Pages Posted: 24 Jan 2016
Date Written: January 23, 2016
The Bank of Russia on 11 December 2015 decided to keep the base interest rate unchanged at 11%, thus indicating that the bank will not move forward with easing monetary policy. Russia’s Central Bank on 14 December resumed 12-month foreign exchange repo auctions with a view to pushing down demand for foreign currency. Thus, the Bank of Russia aims to avoid turbulence in Russia’s financial markets, which may occur in response to a new downturn of oil prices amid raised Fed target rates.
Keywords: Russian economy, Forex market
JEL Classification: P24, E52
Suggested Citation: Suggested Citation