NEWSWATCH Moscow Times/Chris Weafer: No End in Sight to the Ruble’s Downward Slide

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Writing in The Moscow Times, Chris Weafer considers trends in the Russian economy, with a focus on the ruble.

… More than anything else the ruble is very much like the single bolt which holds a hang-glider together. If it breaks then the glider will fall to earth and the pilot very likely killed.
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The reason why the ruble has that critical role is because, on the one side the ruble exchange rate is the end result of several other elements, such as the oil price, global currency trends and the actions of the Central Bank. On the other side are the many consequences of where the ruble trades and that list includes inflation, interest rates, the competitiveness of domestic industry and, most important, end consumer and industry owner confidence.

click here for Moscow Times/Chris Weafer: “No End in Sight to the Ruble’s Downward Slide”

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