Moscow. December 16. The Minister of economic development of the Russian Federation Alexei Ulyukayev considers the decision of the Federal reserve system (FRS) the USA to raise rates will have a major impact on the Russian economy and the ruble, as was to be expected. Ulyukayev said that the increase was accounted for in the price in oil prices.
“Of course, the fed’s decision will affect everyone. But 80% of analysts believed that the decision to raise rates the fed will be made. I think this was large, all expected, all this was preparing, entered into forward contracts and so forth, and it is already included in futures contracts on oil and other contracts,” he told journalists on Wednesday in Nairobi.
For this reason, the Minister doesn’t see the potential for “serious macroeconomic shocks”.
The U.S. Federal reserve following the meeting, 15-16 December Wednesday raised the interest rate on Federal loan funds (federal funds rate) by 25 basis points to a target range of 0.25-0.50% per annum, said in a communique on the results of the December meeting of the Federal open market Committee (FOMC).
The decision was unanimous and in line with the expectations of economists and market participants.
Prior to this rate remained at a historically low level of 0-0. 25% in the past seven years, since December 2008.