Russia Seen Turning to Crisis Playbook to Prevent Ruble Rout
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Russia’s central bank may pick up where it left off earlier this year to avert another run on the ruble.
To take the pressure off the currency, the Bank of Russia will restart one-year foreign-exchange repurchase operations that were halted June 1, according to 14 of 17 economists surveyed by Bloomberg. Other support measures may include “targeted” currency interventions and a delay of further interest-rate cuts, according to BNP Paribas SA. Policy makers will start verbal intervention with the oil price below $50 a barrel, Royal Bank of Scotland Group Plc said.