CBR: October macroeconomic forecast upgrades 2024 growth, but will slow in 2025
1 day ago
Russia’s ruble denominated Moscow Interbank Currency Exchange (MICEX) index set a new all time high of 2061.68 on November 10 on the bounce back that followed the election of Donald Trump as US president.
Trump is seen as good news for Russia that is fuelling hopes of a de-escalation in tensions between the countries. The previous MICEX high was set on September 8 this year at 2063.13 points.
At the same time, the dollar-denominated Russia Trading System (RTS) crossed the psychologically important 1,000 mark for the first time in two years and rose to an intraday high of 1021.97 points (+ 2.6%). Blue chips listed on the RTS did even better, up by 5%, Vedomosti daily reports.
The strongest growth was amongst shares of diamond producer Alrosa (3.3%), steel maker Mechel (13.5% ordinaries, 10.2% prefs), nickel powerhouse Norilsk Nickel (4.9%), aluminium maker RusAl (8.7%), and steel mill Severstal (2.2%).
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CBR: October macroeconomic forecast upgrades 2024 growth, but will slow in 2025
The ranges of analysts’ forecasts for the next years have narrowed for most indicators. At the same time, the ranges for GDP growth, unemployment rate, RUB/$ exchange rate, exports, imports and Brent oil price are widening by the end of the period,
Turkey sticks with 50% policy rate for eighth straight month
Reports say some carry traders have closed lira positions, but the smooth nominal devaluation and real lira appreciation policy remains on track.
More than half of Ukrainians favour peace talks as war reaches 1,000 days, finds Gallup poll
Over half of Ukrainians now support negotiations to end the war with Russia, marking a significant shift in public sentiment as the conflict surpasses its 1,000th day, according to Gallup polls released on November 19.
What happens if aid to Ukraine collapses under Trump?
Researchers at the Kiel Institute for the World Economy, which has been tracking aid to Ukraine's war effort, have calculated hypothetical scenarios of what they believe Ukraine aid could look like in 2025, once Trump takes office in January.
Popular support for Ukraine falling amongst allies
Nato's most recent survey of its member country populations showed that even among those nations that are Ukraine's biggest supporters in terms of its war effort against Russia, many constituents disagree with continued support, Statista reports.
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