Russia cbank sees no growth for next 2yrs, 10%+ inflation and, even tho rouble not responding to rate hikes, says may raise rates further…
Fed not the only central bank tightening – 100bp rate rise from the Russians, was expected and rouble slides through 55 to record lows
Bakes in the case for ECB sovereign QE next year. #TLTRO too feeble. Euro and euro bond yields falling again
Rouble hits new low at 55/$… Brent got its 63 handle yesterday and Putin will presumably still be 63 next year, so only one to go?
LONDON (Reuters) – Of course this time it’s different, it always is. But the similarities between today’s financial constellation and the backdrop to the emerging market collapses of the late 1990s are haunting developing economies.
As the U.S. dollar soared in recent weeks on expectations of higher U.S. interest rates next year, fueled by the creation of third of a million American jobs last month, currencies of high growth but slowing emerging economies fell like dominoes.