Sambo wrestling should become trademark of Russian sports — security officialSport August 18, 18:38
Iran may start oil supplies to Russia within monthBusiness & Economy August 18, 18:31
Nord Stream 2 project will be implemented despite sanctions — energy ministerBusiness & Economy August 18, 18:29
Two killed in stabbing in Turku, FinlandWorld August 18, 18:15
Moscow and Ankara agree upon Turkish Stream landfallBusiness & Economy August 18, 18:11
Russia may lift agricultural restrictions from Turkey by October 20Business & Economy August 18, 18:04
Senior official says Kyrgyzstan is interested in military cooperation with RussiaWorld August 18, 18:03
US, NATO fail to help Afghanistan fight drugs — Foreign MinistryRussian Politics & Diplomacy August 18, 18:01
This week in photos: Barcelona terror attack, lightning in Moscow, volcanoes in KamchatkaSociety & Culture August 18, 17:59
The Russian regulator’s decision should strengthen the approach based on inflation targeting, raise the ruble exchange rate flexibility and facilitate the economy’s adaptation to external shocks, he said.
The Russian economy continues to depend strongly on oil exports and therefore a fall in world oil prices triggers a corresponding depreciation of the ruble, Murray said.
However, the ruble’s fall cannot fully isolate the economy from the implications of decreasing oil prices, he warned, adding that Russia’s economic growth rates were most likely to slow down further. Russia’s fiscal positions and current account indicators were also expected to worsen, he said.According to its revised forecast, the IMF expects Russia’s GDP growth at about 0.2% in 2014 and 0.5% in 2015.
Russia’s Central Bank has abandoned since November 10 the ruble’s trading corridor limits and its regular interventions on the domestic foreign currency market amid falling world oil prices and speculators’ continued attacks on the national currency.
The Russian Central Bank has therefore switched to a freely floating ruble two months ahead of the scheduled time.