Vladimir Putin has dismissed the Russian ruble weakening as temporary and endorsed the measures taken by the central bank saying that it could have acted earlier and it shouldn’t “burn” reserves on intervention.
Speaking at his annual press conference, Russian President Vladimir Putin endorsed the actions of the Bank of Russia and highlighted the need for the country’s economy to diversify away from investment in oil and natural gas production. That should be encouraging news if there were free capital to channel it into different sectors of the economy, but where is it?
He further highlighted that the actions which the Bank of Russia is taking to limit the ruble’s decline are the right course of action. Tightening Liquidity on the Russian ruble and increasing the provision of foreign currency liquidity would, in his words, stabilize the currency market. The deep knowledge of capital markets which Mr. Putin demonstrates sounds mesmerizing indeed.
Truth be told, this strategy did work for a while, but it wasn’t enforced by the central bank strongly enough.
It is difficult to ignore the confidence with which Mr. Putin speaks. He strongly supported the recent actions of the Bank of Russia, albeit clarifying that they could have taken action earlier.
In a free market tone (and, in our view, correctly) he discouraged direct market intervention operations on the open market and highlighted that the Bank of Russia shouldn’t be “burning” forex reserves to feed speculators.
Vladimir Putin correctly pointed out that the current situation is a result of external factors, namely oil prices collapsing and sanctions imposed by the West, but he also outlined that Russia has failed to diversify its economy.
The stark optimism in his words was supported by a statement explaining that the current situation is not likely to continue deteriorating because of global growth. He expressed confidence that the Russian economy will “inevitably” recover and highlighted the need for "further" diversification.
In the most pessimistic scenario the term necessary for recovery is two years “but it could be sooner,” Putin added. Let's agree to disagree - that's rather the most optimistic scenario, considering our current position in the economic cycle and the slowing Chinese growth hitting global commodity markets.
“I hope that the current high key interest rate will not remain for long, the economy will adapt to the new conditions of low oil and natural gas prices. Restructuring is inevitable,” Mr. Putin said.
If the concentrated capital close to the Russian government elects to invest it in long term production of goods and services instead of get-rich-quick schemes as is the norm, then yes, it’s possible.
After yesterday’s rally, the Russian ruble market has been trading more or less flat against the US dollar as oil prices are higher by 4.5% in today’s trading. However, it is noteworthy to say that the currency hit 55 rubles to the dollar after the market opened in Moscow.
Those gains quickly evaporated and were likely caused by a chunk of the $7 billion war chest prepared by the Russian finance ministry yesterday.
Speaking at his annual press conference, Russian President Vladimir Putin endorsed the actions of the Bank of Russia and highlighted the need for the country’s economy to diversify away from investment in oil and natural gas production. That should be encouraging news if there were free capital to channel it into different sectors of the economy, but where is it?
He further highlighted that the actions which the Bank of Russia is taking to limit the ruble’s decline are the right course of action. Tightening Liquidity on the Russian ruble and increasing the provision of foreign currency liquidity would, in his words, stabilize the currency market. The deep knowledge of capital markets which Mr. Putin demonstrates sounds mesmerizing indeed.
Truth be told, this strategy did work for a while, but it wasn’t enforced by the central bank strongly enough.
It is difficult to ignore the confidence with which Mr. Putin speaks. He strongly supported the recent actions of the Bank of Russia, albeit clarifying that they could have taken action earlier.
In a free market tone (and, in our view, correctly) he discouraged direct market intervention operations on the open market and highlighted that the Bank of Russia shouldn’t be “burning” forex reserves to feed speculators.
Vladimir Putin correctly pointed out that the current situation is a result of external factors, namely oil prices collapsing and sanctions imposed by the West, but he also outlined that Russia has failed to diversify its economy.
The stark optimism in his words was supported by a statement explaining that the current situation is not likely to continue deteriorating because of global growth. He expressed confidence that the Russian economy will “inevitably” recover and highlighted the need for "further" diversification.
In the most pessimistic scenario the term necessary for recovery is two years “but it could be sooner,” Putin added. Let's agree to disagree - that's rather the most optimistic scenario, considering our current position in the economic cycle and the slowing Chinese growth hitting global commodity markets.
“I hope that the current high key interest rate will not remain for long, the economy will adapt to the new conditions of low oil and natural gas prices. Restructuring is inevitable,” Mr. Putin said.
If the concentrated capital close to the Russian government elects to invest it in long term production of goods and services instead of get-rich-quick schemes as is the norm, then yes, it’s possible.
After yesterday’s rally, the Russian ruble market has been trading more or less flat against the US dollar as oil prices are higher by 4.5% in today’s trading. However, it is noteworthy to say that the currency hit 55 rubles to the dollar after the market opened in Moscow.
Those gains quickly evaporated and were likely caused by a chunk of the $7 billion war chest prepared by the Russian finance ministry yesterday.
Prop Firm GFT Halts Live Trading Operations During U.S. Presidential Election
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24