Wednesday, June 1, 2011

The Central Bank should pursue a more aggressive policy - a comment of the expert.

"Today, the ruble declined marginally," - says Bank.ru Head of work in the financial and stock markets Binbanka Boris Olshansky. "On the global currency market fluctuations were visible. The dollar strengthened. In my opinion, the "American" can continue to go up. The problem in Greece and has not been solved. And for Greece: Spain, Portugal, etc. In Russia, the U.S. continues to exert pressure on the ruble. Speculation, which is based on the difference in rates in different markets, are continuing. Dollars are cheap, anyway, so far, market participants continue to buy dollars, then invest in the Russian currency, since it is expensive. Oil is at a high level. I think that 80-85 dollars - it's bearable price to consumers and to the normal level for producers to be profitable and make a profit. Now much will depend on the policies of the Bank of Russia. The market expects that in late March, the Central Bank decides to reduce the refinancing rate. Today on deposit at the Central Bank has accumulated a huge amount of rubles - 815 billion. Banks do not want to lend, they prefer to shear off money from the Central Bank. At best, they buy bonds. High-quality securities at any time to sell, pledge, etc. In general, loans are not a priority for Russian banks. In order to get them to lend, to pursue a more aggressive policy of our central bank. Need to lower the rate than 0.25% and 0.5%, lower interest rates on deposits and securities. And Russian banks will perforce have to think what to do with money, they will lend. At 16:59 MSK on the UTS MICEX dollar rose to 29.3488 rubles ($ 0.0077), the euro, by contrast, has declined - to 40.2809 rubles (-0.0355).

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