Russian indexes grow, the ruble strengthened after lowering the key rate of the Central Bank
As of 14:30 Moscow time on Friday, June 16, the Russian stock market is recovering after three days of decline. The MICEX index is at 1827 points with an increase of 0.5%, while the RTS index is trying to gain a foothold above the mark of 1,000 points, up 1%.
Rusal stock companies are growth leaders, Severstal system and are added at 3.3%, 3.1% and 2.8% respectively.
Market growth is also helping the positive dynamics of the shares of oil companies, which are supported along with oil prices, though many analysts now say that the current growth is due solely to technical aspects as fundamental prerequisites to allocate enough hard.
The Russian ruble is growing. The pair USD / RUB at this time is at 57.48 points with a decrease of 0.6%, while the currency pair EUR / RUB decreased by 0.3% and trading at 64.20 points.
According to the results of today’s meeting of the Central Bank of the Russian Federation, it was decided to lower the rate from 9.25% to 9%. Comments regulator were quite cautious because of the bank’s monetary policy remains moderately hard. CBA allocated current decrease inflation expectations and recovery of activity in the economy.
The reason for the growth rate of the Russian ruble at the end of the meeting, analysts called the fact that many experts had expected a rate cut to the level of 8.75%. Yesterday, during a straight line with the Russian president, Vladimir Putin touched on the policy of the Central Bank, where he noted that he supports the idea of a gradual reduction of interest rates, as the exchange rate should remain stable.
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