Some 40,000 cyclists taking part in Moscow cycle paradeSociety & Culture May 28, 18:33
Corporation Irkut: MS-21 first flight performed in routine modeBusiness & Economy May 28, 16:54
Ukrainian military launch more than 180 shells, mines on Donetsk within one dayWorld May 28, 16:36
Minister: Russia may supply 1,000 MC-21 planes to 2037Business & Economy May 28, 14:42
Lavrov: China, ASEAN interested in organization of Eurasian partnershipRussian Politics & Diplomacy May 28, 11:45
MC-21 airliner makes first test flight - sourceBusiness & Economy May 28, 11:00
Putin congratulates Border Guards on their professional holidayMilitary & Defense May 28, 10:57
Ukrianian court puts on hold lawsuit against ban on Russian social networksWorld May 28, 6:10
Russia’s Lasitskene wins high jump in Diamond League event in Eugene, USSport May 28, 4:59
ST. PETERSBURG, June 16. /TASS/. The decision of the US Federal Reserve System will not lead to significant markets’ fluctuations, Economic Development Minister Alexei Ulyukayev told journalists on Thursday on the sidelines of the St. Petersburg International Economic Forum (SPIEF 2016).
"Expectations for the Fed’s accuracy exist on the market. I think it will not lead to some significant fluctuations in the stock and foreign exchange markets," he said.
The US Federal Reserve System acting as the national central bank keeps the base interest rate at 0.25-0.5%. The Federal Reserve increased the base interest rate by 0.25 percentage points to 0.25-0.5% in December 2015. The rate was within the range of 0-0.25% from December 2008 to December 2015.
According to the forecast of the Russian Central Bank, the US Federal Reserve System will gradually raise interest rates, one-two increases might be held in 2016. Head of the Central Bank Elvira Nabiullina said last week, increase of the rate could have a negative impact on commodity quotes.
The ministry expects GDP contraction of less than 1% in 5 months of 2016 in annual terms, Ulyukayev added.
"We have no exact figures yet. We expect GDP contraction of less than 1% in 5 months (of 2016) year-on-year," he said.
According to the Ministry’s monitoring for January-April period of 2016, Russia’s GDP contracted by 0.7% in April year-on-year while in the first four months of this year GDP contracted by 1.1% year-on-year.