The sharp fall in the ruble over the past week or so reflects a combination of factors, including the drop in oil prices, continued capital flight in the context of the ongoing conflict in Ukraine and – perhaps most importantly – reduced support from the central bank. All of this strengthens the case for another hike in interest rates at next month’s CBR Board meeting.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services