Market News
Sept 13 - Russia has significantly raised its inflation forecast for the next two years and expects a much weaker rouble rate against the U.S. dollar, according to macroeconomic forecasts prepared by the economy ministry, as the costs of fighting the war in Ukraine mount.
The economy ministry raised its 2023 inflation forecast to 7.5% from the 5.3% forecast published in April, and also raised its 2024 forecast to 4.5% from 4.0%, according to economy ministry documents, which have been submitted to government as a draft forecast. After the rouble breached 100 per U.S. dollar last month before strengthening, the economy ministry now forecasts a much weaker rouble.
While the rouble and inflation are clearly concerns, the economy ministry raised its headline growth forecasts for 2023 and 2024 but lowered them for 2025 and 2026, in line with analysts' expectations that Russia faces limited long-term growth prospects.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks gain amid hopes for soft landing: Stock market news todayUS futures moved higher on Monday as investors weighed Janet Yellen's upbeat remarks on the US economy and as Tesla surged.
Read more »
Stocks jump amid hopes for soft landing, Tesla surges: Stock market news todayWall Street stocks jumped early Monday, as upbeat Chinese data and comments from Janet Yellen fueled hopes for the world's two biggest economies.
Read more »
Non-alcoholic drink market on the rise in Canada | Watch News Videos OnlineWatch Non-alcoholic drink market on the rise in Canada Video Online, on GlobalNews.ca
Read more »
Stocks slip ahead of Apple event, with inflation data in view: Stock market news todayUS futures dipped on Tuesday, as investors waited for Apple's highly anticipated fall event to kick off and counted down to key inflation data.
Read more »
Tech stocks fall as Oracle sinks, with Apple and inflation in focus: Stock market news todayStocks opened lower on Tuesday as investors waited for Apple's fall event to kick off and counted down to a key inflation data report.
Read more »
Stock futures dip in countdown to key CPI data: Stock market news todayAugust's Consumer Price Index inflation report is a key data point for the Fed when it decides on rates policy next week.
Read more »