the Dollar dropped against the Russian currency more than one ruble, at a minimum in the evening, his rate was 65.3 ruble. The Euro has lost about 90 cents, declining to a minimum to 73.1 rubles. In the “green” zone were also stock market indices: the index of Masuri added about 2%, the RTS index is about 4%.
does the ruble chances to return to growth.
the fed on Wednesday following an emergency meeting announced the reduction of the range of the base interest rate at once on 0,5 percentage points – to 1.5-1.75% to 1-1. 25 percent. His solution to the U.S. regulator explained emerged for the world economy risks in connection with the spread of the coronavirus. “The regulator is closely monitoring developments and their impacts on economic prospects and will use their tools and act depending on the circumstances to support the economy”, – noted in a release the fed. To this end, for the rapid spread of coronavirus financial markets of both developed and developing countries have fallen markedly.
After such an aggressive decline rate recovery in the markets continue, oil prices will be formed in the range of 50-55 dollars per barrel and the ruble exchange rate can implement the attempted consolidation in the range of 64,5-66,5 rubles per dollar, according to senior analyst “BCS Premier” Anton Pokatovich. However, such active actions of the us regulator gives serious concerns, he said.
the Central Bank believes that the coronavirus can change the forecast for GDP growth Russia
In his opinion, such an aggressive step to reduce rates, cut some of the capabilities of monetary authorities to provide markets support in the event of a resumption of the decline.Current monetary incentives may not be as effective against mt he global economy with viral pressure, says an analyst.
So the prospect of Mar risks the resumption of the collapse are still significant, and the emergency measures the fed to reduce rates now markets do not guarantee protection, summarizes Pokatovich.