Tense game of rouble roulette

In the long run, an economic crisis in Russia is a lose-lose proposition for all involved

22nd December, 2014

Less than a month ago, Russian economic data posted surprisingly positive results. Growth was running at 0.7 per cent year on year in the third quarter of 2014, more than doubling the consensus forecasts, and only a notch down from the 0.8 per cent expansion recorded in the second quarter. The exchange rate for the rouble stood at 56.58 vis-à-vis the euro and 45.58 vis-à-vis the dollar. Growth outlook for 2015 was a rosy 1.2...

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