The OFZ foreign exchange index on the Moscow Stock Exchange fell below 101 points for the first time since March 2022, falling to the lowest level in the last 2.5 years. This is proven by trade data.
RGBI government bond index (Russian Government Bond Index) decreased by 0.24% to 100.99 points. This indicator includes the most liquid federal loan bonds along with their duration (time until full return of invested money). –
“socialbites.ca”) has been operating for more than a year and is the main indicator of the state of the Russian state debt market.
“Investors’ expectations that the interest rate will increase to 20% in October are gradually being translated into OFZ quotas. “Fixed coupon bonds will remain under pressure,” he commented. RBC Dmitry Gritskevich is head of banking and financial markets analysis at PSB.
The market reacted negatively to the statement of the head of the Central Bank’s monetary policy department, Kirill Tremasov, that the key interest rate could rise above 20% in case of new unforeseen conditions for the Russian economy.
The Ministry of Finance’s publication of the 2025-2027 federal budget draft, which envisages an increase in borrowing, put additional pressure on the index. According to experts, this indicates upcoming large-scale OFZ settlements.
Before that the Central Bank reputed The interest rate should have been raised earlier.
banks before caught In the manipulation of loan interest rates.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.