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reply to post by gardener
Because it doesn't affect us, we shouldn't care?
How many flight 370 threads have you started? It doesn't affect you, so why care?
"The Central Bank of the Russian Federation appears to have abandoned its policy of increased currency flexibility and limited intervention in the foreign-exchange market. The Central Bank is now focused on stabilizing financial markets in light of the inflationary impact of the around 10% depreciation of the currency so far this year and the significant capital outflow, which we estimate at about $60 billion in the first quarter of 2014, similar to the level for the whole of 2013."
Like Danske Bank, Citi also recently slashed its 2014 Russia GDP growth forecast to 1.0% year over year from 2.6%.
In a note explaining the decision, Citi economist Ivan Tchakarov explained how Russian business investment and consumer spending were likely to suffer:
How does the Russia economy affect ATSers?
I highly doubt the majority of us are suffering under the economy of... rUSsia =D