Russia, worse after retouching rates, sharp devaluation of the ruble and … – Ambito.com

Russia, worse after retouching rates, sharp devaluation of the ruble and … – Ambito.com

     Business
    
    
    Tuesday December 16, 2014
    
         
    

Putin blame “speculators”

After the crash Monday when the Russian currency fell 10 % against the dollar, the ruble relives a critical time and sinking more than 20%, and achieves a new level of 100 rubles per euro and 80 rubles per dollar , despite the intervention the Central Bank.

Yesterday, the Russian central bank raised interest rates from 10.5% to 17%, failed to calm down investors and pressure on the currency continues to rise .

In a hectic day in Moscow, your bag falls by 15% and operates in lowest since March 2009.

“We are witnessing notoriously a speculative attack on the ruble, “said Alexei Mikheiev expert VTB24 bank. This is also the argument of Russian President Vladimir Putin, who blames speculators and the West by falling oil prices and the consequent depreciation of the ruble.

The Central Bank explained this morning that the rise in interest rates was made in an attempt to curb inflation and the collapse of the currency caused in part by the sharp drop in oil prices .

Now, “the main problem and s regain the trust of the population that is becoming increasingly their savings in dollars ” economists warn Russian Alfa Bank. For Russian society the consequences of the collapse of the ruble are already very specific: the rise in prices is about 10% annually and can be fired even more

Although the Russian central bank’s decision to raise its rates. interest was hailed by economists of the London cabinet Capital Economics, they cautioned that this strategy has a price, “a new costly credit for families and businesses, and an even deeper decline in the real economy in 2015″ <. / p>

Given the seriousness of the situation, the idea of ​​introducing restrictions on the movement of capital, now rejected by Putin, has been debated, although analysts fear that this aruinaría Moscow’s credibility in international markets.

“The central bank’s decision confirms that Putin continues to support an orthodox policy of the bank” with monetary measures rather than market restrictions, says Alexander Kliment, the gabiente Eurasia Group.