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Russia Must Cut Rate 2 Points This Month, Gilman Says
The central bank on Nov. 24 cut the benchmark a ninth time since April to a record low 9 percent in an effort to reduce the extra return on ruble investments and cap speculative gains in the currency that are hurting exporters. Even after policy easing, Russia remains a “no-brainer for the short-term carry trade,” Gilman said, as the country’s benchmark is still higher than rates in Brazil, India and China.
Submitted by
etfguy
12/2/2009
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12/2/2009
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