MOSCOW, October 28. The ruble has accelerated its growth after the fed decision. So, the Euro fell below 70 rubles – up to 69,91 of the ruble, which by 1.72 ruble below the close of yesterday’s trading. The ruble has kept the growth of the dollar. The U.S. currency to 21:10 Moscow time has fallen in price on 1 rouble ruble to 63.9.
Earlier Wednesday afternoon the Euro against the ruble during trading on the Moscow exchange rose in comparison with level of closing previous trading session at 69 cents to 72,31 rubles, exceeding the mark of 72 rubles. the dollar rose in price to 58 cents to RUB 65,48
The cost of futures for oil of mark Brent with delivery in December 2015 during today’s trading on the exchange ICE in London have reduced growth to 3.5% down to $48,8 per barrel.
Prior to the publication of decision FRS the USA under the rate of the price of a barrel of Brent was at $49,1, and grew by 5%.
The U.S. Federal reserve has left its benchmark interest rate at 0-0,25%
Federal reserve system (FRS) that perform the functions of the Central Bank, left its key policy rate unchanged at 0-0,25%. This is stated in a statement on Wednesday the financial regulator following the meeting of its leadership. In the message the fed stated that at the next meeting, to be held 15-16 December, will again be considered the question whether a rate hike in the current economic environment.
One of the notable changes in the text of the fed release was the lack of a phrase that changes in the global economy may restrain economic growth in the United States. Now the fed says only that he follows the development of the international situation.
Earlier in the September release at the rate the fed noted that the Outlook on foreign countries has become more uncertain due to the increased concern on the growth of the Chinese economy and other developing countries, which led to significant volatility in the financial markets. As was stated by the head of the fed Janet Yellen at a press conference in September, changes from the July meeting include the fall of the stock market in China and further growth of dollar. According to her, these changes of conditions have somewhat tightened financial conditions in the United States.
Only from 15 October to 26 October, the dollar index (the value of the dollar to a basket of currencies of Euro, pound sterling, Japanese yen, Swiss franc, Swedish Krona and canadian dollar) jumped 3.5% and since early year increased by 7.9%. The rise in the dollar leading to inflation deceleration has occurred, including, due to the “flight” of investors from the Chinese stock market. The Shanghai Composite index in June fell to 33% and still has not recovered.
At this point in the release the fed said the U.S. economy is growing “at a moderate pace”.
Assessment on the dynamics of the US GDP for the third quarter will be published on 29 October. Experts already are predicting lower growth due to lower exports and industrial stocks. Assessment Barclays, U.S. GDP growth in the third quarter will slow to 1.5%, against a growth of 3.9% in the previous quarter.
Since December 2008, the benchmark interest rate by the fed remains unchanged at 0-0. 25%.
According to the consensus forecast Bloomberg, none of 81 economists surveyed did not expect that at the October meeting, the fed rate will be raised.