MOSCOW, October 28. Increasing the Central Bank's key rate by 2 percentage points at once somewhat strengthened the ruble, but a delayed effect may appear closer to the end of winter, stock market expert at BCS World of Investments Evgeniy Mironyuk told the Prime agency.
He called The ruble’s reaction to the fourth rate increase was very eloquent. The rate has strengthened significantly, breaking down the level of 93-93.3 rubles per dollar, formed in previous days.
This tactic of the Central Bank will undoubtedly strengthen the ruble and make investments in it more interesting for investors. However, it is not a fact that this will help break down the level of 90 rubles per dollar. After all, the exchange rate is influenced not only by the regulator’s monetary policy, but also by other factors.
““I maintain the forecast of 90-100 rubles per dollar until the end of the year. The measures taken are designed to reduce the volatility and speculative interest of those who play against the ruble,” — Mironyuk noted.
Prospects will become clearer when the key rate reaches a plateau. It is possible that then the delayed effect of the increases will fully manifest itself — imports, demand and lending will decrease. A set of measures by the Bank of Russia and the government will help stabilize inflation and the exchange rate, the expert concluded.