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Bank of Russia: US Federal Reserve rate increase may delay oil prices recovery

December 02, 2016, 18:38 UTC+3
Recovery of international business environment may become slower in view of expected rate increase by the US Federal Reserve, the regulator said
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MOSCOW, December 2. /TASS/. Recovery of international business environment and oil prices may slow down if the US Federal Reserve raises the rate, the Bank of Russia said on Friday in the Financial Stability Review.

"Improvement of international business climate was observed in the reporting period (2-3 quarters of 2016 - TASS): capital inflow to financial assets of developing markets; certain recovery of resource prices occurred against the background of maintained soft monetary policy of leading central banks. Yields of Russian Eurobonds remained to the level of early 2014; the share of foreign investors on the OFZ bond market recovered to maximum of 27%. Nevertheless, the recovery may become slower in view of expected rate increase by the US Federal Reserve," the regulator said.

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