{"id":3054,"date":"2014-12-15T19:21:21","date_gmt":"2014-12-16T00:21:21","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3054"},"modified":"2014-12-15T19:21:21","modified_gmt":"2014-12-16T00:21:21","slug":"russia-shocks-with-emergency-rate-hike-boosts-interest-rate-from-10-5-to-17","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3054","title":{"rendered":"Russia Shocks With Emergency Rate Hike, Boosts Interest Rate From 10.5% To 17%"},"content":{"rendered":"<h1 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2014-12-15\/russia-shocks-emergency-rate-hike-boosts-interest-rate-105-17\" target=\"_blank\">Russia Shocks With Emergency Rate Hike, Boosts Interest Rate From 10.5% To 17%<\/a><\/h1>\n<p>&nbsp;<\/p>\n<p>Following the biggest rout to the Ruble in ages, Russia &#8211; unlike Mario Draghi &#8211; instead of talking the talk decided to walk the bazooka walk and shocked all those long the USDRUB by unleashing an emergency rate hike (at 1 am in the morning)\u00a0<strong>from the recently raised interest rate of 10.50% to&#8230; hold on to your hats&#8230; 17.00%, a 650 bps increase!<\/strong><\/p>\n<p>From the pre<a href=\"http:\/\/www.cbr.ru\/press\/pr.aspx?file=16122014_004533dkp2014-12-16T00_39_23.htm\">ss release:<\/a><\/p>\n<p>The Board of Directors of the Bank of Russia has decided to increase from December 16, 2014 the key rate to 17.00% per annum.<strong>\u00a0This decision was driven by the need to limit significantly increased in recent devaluation and inflation risks.<\/strong><\/p>\n<p>In order to enhance the effectiveness of interest rate policy loans secured by non-marketable assets or guarantees for a period of 2 to 549 days from 16 December 2014 will be granted at a floating interest rate established at the level of the key rate of the Bank of Russia increased by 1.75 percentage points (Previously these loans for a period of 2 to 90 days, provided at a fixed rate).<\/p>\n<p>In addition, to enhance the capacity of credit institutions to manage their own currency liquidity was decided to increase the maximum amount of funds to repurchase auctions in foreign currency for a period of 28 days from 1.5 to 5.0 billion. US dollars, as well as on similar operations for a period of 12 months on a weekly basis.<\/p>\n<p>And for the Russian-speakers, the full breakdown of rates.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Russia Shocks With Emergency Rate Hike, Boosts Interest Rate From 10.5% To 17% &nbsp; Following the biggest rout to the Ruble in ages, Russia &#8211; unlike Mario Draghi &#8211; instead of talking the talk decided to walk the bazooka walk and shocked all those long the USDRUB by unleashing an emergency rate hike (at 1 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[951,430,1948,693,694],"class_list":["post-3054","post","type-post","status-publish","format-standard","hentry","category-economics","tag-currency","tag-interest-rate","tag-rate-hike","tag-ruble","tag-russia"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3054"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3054\/revisions"}],"predecessor-version":[{"id":3055,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3054\/revisions\/3055"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}