Alfa-Bank criticized the communication of the Central Bank with the market – Kommersant
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Analysts at Alfa-Bank believe that an extraordinary increase in the key rate to 12% “damages the predictability of actions” of the Central Bank of Russia. Also, analysts of the financial organization criticized the Central Bank for the lack of explanations for the need for an unscheduled increase in the rate.
“In today’s release, no new arguments were presented to the market in support of this extraordinary decision. Today’s decision of the Central Bank of the Russian Federation looks negative in the context of the communication of the Central Bank of the Russian Federation with the market,” Alfa-Bank analysts say in a comment (quoted from Finam.ru).
The analytical commentary also expresses doubts about the necessity and effectiveness of the decision of the Bank of Russia. “The dynamics of inflation does not give grounds for a sharp movement in the rate. We doubt that the rate increase will have an effect on the foreign exchange market,” the analysts added.
Today, August 15, the Central Bank raised the key rate from 8.5% to 12% amid the fall of the ruble. Yesterday, August 14, the dollar exchange rate exceeded 101 rubles, the euro – 110 rubles. In today’s trading dollar rose above 97 rubles, euro – 103 rubles. The fall of the Russian currency has accelerated since the beginning of August and amounted to about 7%, which is more than in the whole of July.
About the situation with the ruble exchange rate – in the material “Kommersant” “August took the ruble”.
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