Russia can stop monetary easing

Russia can stop monetary easing if the oil will fall in price to $ 40

central bank
Russia may suspend the program
monetary easing if the price
Oil falls to $ 40
barrel. This was stated today in
a telephone interview with the economic
Advisor in the Kremlin Andrei Belousov.

"If
change the situation on the currency market
as a result of the strong fall in prices
oil (to $ 40), then,
probably the CBR stops operation
smooth lower rates ", - he said
Belousov.

rout
commodity markets may make
control to change tactics if inflation
back up and unfurled the ruble will undergo
further destabilization. Russian
currency is now trading at a six-month
minimum: the dollar is worth 65.50 rubles, euro
- 72.57 rubles.

the
Eventually, after a sudden disaster
CBR rate increase to 17.5% in December
Elvira Nabiullina in five stages smoothly
lower it to 11%. Belousov, former Minister
Russian economy, which was replaced by Nabiullina
as president assistant in 2013,
He was one of the first Russian officials,
who spoke about the possibility of reducing the
rates in January. A few days later
The Bank of Russia is really shocked traders
and analysts, demonstrating
rate reduction, which became one
of the sharp turns Policy
major global regulators since 1990.

Sale
Oil and gas are about half
revenues of the state budget
Russia. Therefore, the world oil price
greatly affects the ruble quotes
and she spent the day today lost
further 0.3%: to 17.56 Brent traded
at $ 48.59 per barrel
October delivery.

key
rate at the moment - the only
tool at the disposal of the central bank,
by which he can influence the
ruble. This Belousov said
Monday, stressing that the Russian
can no longer afford to spend
regular intervention in the foreign exchange
market due to the current lack of
level of reserves.

Let me remind you,
last year, the Central Bank has spent about 88
billion dollars in an attempt to maintain
ruble came under a comprehensive rink
the fall in oil prices, capital outflows
and sanctions from the West.

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