Russia's Central Bank Keeps Benchmark Rate Unchanged

The video discusses the central bank's decision to keep rates unchanged despite predictions of a cut. The statement was more hawkish than expected, leading to a rally in the ruble and higher oil prices. The central bank, led by Elvira Nabiullina, prioritizes controlling inflation over stimulating growth, despite the recession. The bank remains independent from government influence, including President Putin. The relationship between oil prices and the ruble is crucial for Russia's budget, with a preference for oil above $50 a barrel.

What was the market's reaction to the central bank's decision to keep the interest rate unchanged?

• The ruble depreciated and oil prices fell.

• The ruble rallied and oil prices increased.

• The ruble remained stable and oil prices decreased.

• The ruble depreciated and oil prices increased.

What is the central bank's main priority according to the second section?

• Stimulating economic growth

• Increasing exports

• Reducing unemployment

• Controlling inflation

How does the central bank's policy relate to President Putin's preferences?

• The central bank's policy is often opposed by Putin.

• The central bank operates independently but has Putin's support.

• The central bank strictly follows government directives.

• The central bank's policy is dictated by international organizations.

What is the relationship between oil prices and the ruble according to the third section?

• Oil prices have no impact on the ruble.

• A weaker oil price should lead to a weaker ruble.

• A weaker oil price should lead to a stronger ruble.

• Oil prices and the ruble move independently.

What oil price level would the government prefer to manage the budget deficit?

• Below $30 a barrel

• Above $50 a barrel

• Exactly $40 a barrel

• Between $30 and $40 a barrel