€1.1tn European quantitative easing announcement sends Russian stocks, ruble surging

By bne IntelliNews January 22, 2015

bne IntelliNews -

Russia's Micex stock exchange was up 3% at 19:00 Moscow time on January 22, while the dollar fell sharply against the ruble, from RUB64.3 to RUB63.3.

The trigger was an announcement by the European Central Bank (ECB) at 13:30 that it would launch its programme of quantitative easing to the tune of €60bn a month, with the total volume put at around €1.1tn. The effects of the ECB's programme to buy private and public sector debt are now expected to spill over into emerging and commodity markets, with Russia set to benefit most from both developments. 

According to Bloomberg, the Russian stock market surge was the strongest across the globe. Russian equity has been hit the hardest by the 50% collapse in the price of oil since June that followed the US Federal Reserve's announcement it would discontinue its own programme of quantitative easing.

Related Articles

Drum rolls in the great disappearing act of Russia's banks

Jason Corcoran in Moscow - Russian banks are disappearing at the fastest rate ever as the country's deepening recession makes it easier for the central bank to expose money laundering, dodgy lending ... more

Kremlin: No evidence in Olympic doping allegations against Russia

bne IntelliNews - The Kremlin supported by national sports authorities has brushed aside "groundless" allegations of a mass doping scam involving Russian athletes after the World Anti-Doping Agency ... more

PROFILE: Day of reckoning comes for eccentric owner of Russian bank Uralsib

Jason Corcoran in Moscow - Revelations and mysticism may have been the stock-in-trade of Nikolai Tsvetkov’s management style, but ultimately they didn’t help him to hold on to his ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss