Press review: US election criticism and Belgium against CETAPress Review October 25, 13:00
Russian deputy PM: Agreements on crude production cap to stabilize oil sector investmentsBusiness & Economy October 25, 12:46
Russia ready to extend Turkish stream after written guarantees from EU — LavrovBusiness & Economy October 25, 12:34
Pablo Picasso paintings come to lifeSociety & Culture October 25, 12:31
Minsk confirms it is ready to host Contact Group meeting October 26World October 25, 12:09
Moscow surprised as Germany places politics above economy — LavrovRussian Politics & Diplomacy October 25, 12:03
Terrorists cutting off Aleppo residents from humanitarian corridorsWorld October 25, 11:32
Animal abuse probe opened as 2 dolphins, seal and sea lion cub die in Primorye aquariumSociety & Culture October 25, 11:01
South Ossetia's military may be allowed to serve in the Russian army — defense ministerMilitary & Defense October 25, 10:37
Putin is expected to voice his stance on the issue not earlier than during the annual press conference due on Thursday, the report says. Peskov confirmed that the event is to be held “routinely.”
On Tuesday, Russian Prime Minister Dmitry Medvedev chaired a government meeting on the financial and economic situation in the country. Russian Economic Development Minister Alexey Ulyukayev said Russian government members have worked out measures to stabilize the currency market.
The situation is very complex but “we are not the first and we’re not the last to pass through similar circumstances,” Ulyukayev said. “In this respect, it is important to ensure the unity of actions by the Bank of Russia and the government,” he said.“These actions will be aimed at ensuring greater balance between demand and supply on the domestic foreign currency market,” he said.
Russia’s Central Bank suddenly raised the key rate early on Tuesday by 6.5 percentage points to 17% in an attempt to halt the ruble’s devaluation.
Many market participants expected a sharp rate increase at the Central Bank’s interest rate policy meeting on December 11 but the regulator increased the main lending rate by just one percentage point to 10.5% The market shrugged off the regulator’s decision and the ruble continued its free fall.
After the rate decision, the ruble strengthened against the dollar and the euro but resumed its steep fall afterwards.
Russian Central Bank Chief Elvira Nabiullina said the ruble was falling under the impact of external factors.