They tried to switch to a floating foreign exchange regime and it hasn't worked, will they admit that the float has failed and go back to the peg? The main task ... will be to restore credibility of the central bank.

Tatiana Orlova

Categorized in : Company News

Emerging markets are in a mood when they follow each word of global central bankers, so the market is reacting to that.

It wasn't the central bank's intention that this money should be used for speculation on bonds. Now it has given a signal. For now the hiking has done the job and the rally has lost steam, at current oil prices, the rouble should be within 55-60 per dollar despite cheap liquidity.