Revised market expectations regarding key rate path shape markets in May
11 June 2024
News
In May, the value of securities declined in the Russian stock and debt markets and the ruble strengthened against foreign currencies in the foreign exchange market.
The yield curve of federal government bonds (OFZ) continued to rise (by 150 basis points on average) in April. The yields were affected by the market expectations that the high interest rates will remain for a longer period.
The ruble strengthened by 3.2% reaching ₽90.1 per US dollar. In addition to tight monetary policy, this was fuelled by the 13% increase in the net sales of foreign currency earnings by major Russian exporters.
More details are available in the new issue of the Financial Market Risks Review.
Preview photo: Zoran Preview photographer / Shutterstock / Fotodom