Russia 100527 Basic Political Developments
Interfax: Europe events not to have strong impact on Russia – CB chairman
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- Bu səhifədəki naviqasiya:
- Bloomberg: Ruble Better Able to Withstand External Shocks, Ignatiev Says
- Bloomberg: Russian Bank Lending Still at ‘Low’ Level, Ignatiev Says
- Interfax: Banks have 475.5 bln rbs on CBR correspondent accounts on May 27
Interfax: Europe events not to have strong impact on Russia – CB chairmanhttp://www.interfax.com/newsinf.asp?id=167204 ST. PETERSBURG. May 27 (Interfax) - The events in Europe will not have a strong impact on Russia, Central Bank Chairman Sergei Ignatyev said at an international banking congress in St Petersburg . "I don't think these events can have a negative impact on the Russian economy," he told the banking congress. The large deficits in some European countries have undermined the markets' confidence in the ability of the governments of those countries to honor their public debt commitments, Ignatyev said. This has pushed the cost of sovereign debt up in those countries, eroding that confidence even more. "It's a viscous circle. The problem's more political than economic, and it is quite surmountable if the European states act promptly and a well-coordinated manner," he said. The overall uncertainty, the possibility of fiscal policy in European countries being firmed up drastically and the potential consequences this will have for overall demand and economic growth - all this has brought shares, oil and other commodity prices down, Ignatyev said. Russian banks, including the Central Bank, are far better prepared for external shocks than they were in 2008, and the CB is keeping the exchange rate under control, he said. The latter is much more flexible than it was pre-crisis, and exchange-rate policy is more in line with the volatility on the international currency and commodity markets, he said. "The Central Bank has a much wider range of instruments to influence the situation than it had two years ago, and the government, Central Bank and commercial banks have acquired some expertise in acting in conditions of global economic crisis," he said. Banking sector liquidity in Russia is sufficient and its foreign debt has decreased substantially since 2008. Also, Russia still has the world's third biggest gold and forex reserves. Pr
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a9kYyo0_kWa0 By Paul Abelsky May 27 (Bloomberg) -- The ruble is “much more flexible” than before the crisis and is more able to withstand eternal shocks, central bank chairman Sergey Ignatiev said in St. Petersburg today. The Russian currency better reflects external volatility, he said. To contact the reporter on this story: Paul Abelsky in Moscow at pabelsky@bloomberg.net
By Artyom Danielyan May 27 (Bloomberg) -- The rate of lending among Russian banks is still at a “low” level despite slight growth in March and April, Russian central bank chairman Sergey Ignatiev said at a banking conference in St. Petersburg today. “As before, banks view lending to the real sector as being quite risky and prefer to purchase securities and build up liquidity,” Ignatiev said. The level of bad loans to households and companies grew by 3 percent in April, he said. To contact the reporter on this story: Paul Abelsky in Moscow at pabelsky@bloomberg.net Last Updated: May 27, 2010 01:58 EDT 2010-05-27 09:18 Reuters: Russian rouble extends recovery on stronger oil http://www.iii.co.uk/news/?type=afxnews&articleid=7914361&action=article MOSCOW, May 27 (Reuters) - The Russian rouble rose in early trade on Thursday, supported by stronger oil prices and banks' client interests to sell foreign currencies ahead of the last local monthly tax payments. By 0702 GMT, the rouble was up 34 kopecks at 30.84 against the dollar, nearly 85 kopecks away from its 8-1/2 month low touched earlier this week. Against the euro-dollar basket, the rouble scaled one week high of 34.03, recovering from Wednesday's close of 34.36 . Versus the euro, it also touched one week peak, climbing 25 kopecks to 38.02. A reversal in global attitude towards risky assets and a rebound on Asian stock markets supported oil prices, pushing them above $72 per barrel. Dubbed by dealers a derivative of oil prices, the rouble followed crude higher and also got a boost from a rising euro against the dollar. Thursday's rouble firming "is in line with the general market trend", said Mikhail Spolokhov, chief dealer at MDM bank. He also said the rouble is supported by Russian exporters, converting part of their dollar and euro revenues to meet domestic taxes. "Today clients came up with selling (of foreign currencies)," said a dealer at Russian bank. Income tax due by May 28 may total 190-229 billion roubles ($6-7 billion), according to Trust bank estimates. But market players are still wary of betting strongly on the rouble's firming as uncertainty concerning euro zone woes and oil prices remains. On Thursday, Russia's central bank governor Sergei Ignatyev said the rouble was under the regulator's control, however it is much more flexible than before the crisis and better reflects the situation on global markets. (Reporting by Andrey Ostroukh, editing by Mike Peacock) ($1=31.29 Rouble) Keywords: RUSSIA ROUBLE/ (andrey.ostroukh@reuters.com, +7 495 775 12 42) May 27, 2010 09:15
The balance on May 26 was 455.0 billion rublesand 298.6 billion rubles, respectively. Banks had 650.3 billion rubles on deposit accounts in the Central Bank on May 27 against 659.4 billion rubles on previous day. May 27, 2010 10:22 Yüklə 244 Kb. Dostları ilə paylaş:
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