http://www.kommersant.com/p799480/r_528/macroeconomics/
*Liquidity Crisis Solved with Money* The outflow of speculative capital from *Russia* that began in July does not look like a counterweight to inflation yet. According to Central Bank data, as of August 1, the money mass (M2 aggregate) was continuing to grow and had topped 50 percent year-on-year again in July. At the same time, instability is ending. In spite of the fact that the Central Bank broke another record with repo deals 271.8 billion rubles ($10.6 billion), the situation is becoming calmer. The Central Bank also raised the ruble against the currency basket ($0,55 и 0,45) by 2 kopecks. Banks' expectations for after the crisis are not rosy. A Lombard credit auction for 14 days at 7 percent was called off yesterday, but the Central Bank expressed its willingness to credit banks at the same rate for 7 days. Although the interbank credit rate remains high (8.43percent for one day, 7.43 percent for 2-7 days), demand related to tax payments is falling. Trust investment bank trader Evgeny Garipov commented that "Some market participants have a noticeable good mood, connected with hopes for the end of the pay period." The Central Bank published new data on key inflation indicators recently. The M2 aggregate was hardly influenced by the outflow of capital from Russia on August 1, when it was 10.92 trillion rubles. That was an increase of 0.6percent over July 1. That was slight compared to the dynamics of its growth between April and June, 5-7 percent monthly. But the growth of M3 exceeded 50 percent again, reaching 51.2 percent. The price of oil remains high. The Ministry of Economic Development and Trade yesterday predicted that inflation for August would be 0.2 percent. That is the same rate as in August of last year. [Non-text portions of this message have been removed] *************************************************************************** Berdikusi dg Santun & Elegan, dg Semangat Persahabatan. Menuju Indonesia yg Lebih Baik, in Commonality & Shared Destiny. http://groups.yahoo.com/group/ppiindia *************************************************************************** __________________________________________________________________________ Mohon Perhatian: 1. Harap tdk. memposting/reply yg menyinggung SARA (kecuali sbg otokritik) 2. Pesan yg akan direply harap dihapus, kecuali yg akan dikomentari. 3. Reading only, http://ppi-india.blogspot.com 4. Satu email perhari: [EMAIL PROTECTED] 5. No-email/web only: [EMAIL PROTECTED] 6. kembali menerima email: [EMAIL PROTECTED] Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/ppiindia/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/ppiindia/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
