Violeta Klyviene, senior analyst at Danske Bank, commented that the weakening ruble may limit how much the Central bank can lower rates and the “possible scaling back of quantitative easing in the United States and tighter monetary conditions in Asia also limits the room for Russian rate cuts.”
In January, industrial output in Russia jumped 7.9% year-over-year, according to the Associated Press. The Federal Statistics Service reported that industrial output dropped by 10.8% last year. Car and locomotive manufacturing increased by three-fold year-over-year.
Russian President Dmitry Medvedev wants to speed up the Russian economy’s modernization to meet a 25% CO2 reduction target by 2020, as stated in NASDAQ. Medvedev says Russia’s climate doctrine might also be revised to fit the changing conditions. [Why Russia is Moving Beyond Oil.]
For more information on Russia, visit our Russia category.
- Market Vectors Russia (NYSEArca: RSX)
Max Chen contributed to this article.
