In the short term, the price of the euro against the ruble may rise due to the European Central Bank’s decision to increase key interest rates. This prediction was given to socialbites.ca by BitRiver financial analyst Vladislav Antonov.
“By the end of September, the euro will most likely be in the range of 102-106 rubles. But for a longer period of time, the ECB’s decision will no longer affect the ruble. “The ruble becomes more expensive or cheaper mainly for internal reasons, for example, changes in the trade balance,” the expert said.
Antonov explained that, as a rule, the exchange rates of the euro, dollar and yuan change almost in parallel with the ruble, either growing together or falling together.
According to the Moscow Stock Exchange, the euro rate at 18:01 is 103.1975 rubles (minus 0.15% compared to the morning).
On Thursday, the European Central Bank raised interest rates by 25 basis points. Currently the ECB’s base interest rate is 4.5% per year. The deposit rate is 4% and the rate for short-term loans from the European regulator is 4.75%.
Sovcombank chief analyst Mikhail Vasiliev spoke about three consequences of the ECB’s decision for Russia and Russians. More details material “Newspapers.Ru”.
Previously “socialbites.ca” said About the possible increase in the key rate of the Central Bank of the Russian Federation on September 15.