Bank Of Russia Calls “Emergency” Meeting To Address Ruble Rout
The sharp (and seemingly inexorable) decline in crude prices combined with Western economic sanctions and geopolitical turmoil have weighed on the currency of late and in the midst of a new leg down in oil, investors appear to be panic selling.
“Some investors are selling at any price,” Bernd Berg, an emerging-markets strategist in London at Societe Generale told Bloomberg by e-mail.
And even as Russian central bank Deputy Chairman Vasily Pozdyshev swears “there’s no systemic risk,” the Bank of Russia has now called an emergency meeting with state-run and private lenders to discuss the FX bloodbath.
- BANK OF RUSSIA TO MEET STATE-RUN, PRIVATE LENDERS: IZVESTIA
#BREAKING#Russia‘s Central Bank call emergency meeting as #ruble plunges for second day running, breaking 1998 lows https://twitter.com/rianru/status/690214963403685888 …
