EMerging Equity
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Russia’s International Currency Reserves Declined Again
“Reserves dropped due to the negative balance of the exchange and the mark-to-market adjustments, Central Banks’s press service says,” according to TASS, Russian news agency. Russia’s international reserves declined by $6.3 billion to $356.7 billion from February 27 to March 6, 2015, the Bank of Russia said on Thursday. “Russia’s international reserves are highly liquid foreign assets … Continue reading
Russia’s Central Bank Unexpectedly Slashes Rate To 15%, Ruble Reels
The Russian Central Bank has cut its key interest rate to 15 percent from 17 percent due to the ‘shift in the balance of risks of accelerated consumer price growth and cooling economy,’ according to a statement from the regulator. The 200 basis point cut comes a month and a half after the bank raised … Continue reading
Russian Central Bank Voids Standard & Poor’s, Moody’s, Fitch Ratings
The Central Bank of Russia will no longer use credit ratings from Standard & Poor’s, Fitch, or Moody’s that were assigned after March 1, 2014. All credit ratings given to Russian companies and banks will now be at the discretion of the Board of Directors of the Bank, according to a press statement Monday. The … Continue reading
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