Russia FX/Rates Snapshot - December 16, 2021. Ruble to Continue Strengthening After Fed Meeting
The ruble weakened sharply to 74.4 prior to the Fed meeting as many market players feared a significant tightening of rhetoric. However, the Fed ended up taking a fairly measured approach: it announced that it was increasing the pace of the tapering and forecast three 25 bp rate hikes next year. This was generally in line with market expectations. With the risk of a sharp hawkish turn out of the way, the ruble recovered to 73.7.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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