The unpredictability of the ruble scare experts

Finansy08-12-2008 Unpredictability of the ruble scare experts of the previous trading week was ambiguous on the major currency pairs. According to experts, the basic tone of the movement of currencies again asked quotes world stock indices, while the majority of fundamental data has been ignored by the market. The most important event of the week, according to analyst finance company UMIS Eduard Kovalenko, was the meeting of the European Central Bank and Bank of England, which in turn has helped strengthen the euro a little. "The European Central Bank yesterday for the first time in its history, has lowered the refinancing rate once by 75 basis points, from 3,25 to 2,5%. While the standard step adjustment rate for the ECB is 25 basis points. Bank of England has lowered the rate from 3 to 2%. Analysts had expected Bank of England will reduce rates by one percentage point, the decision of the ECB seemed more modest: they predicted a decrease rates by 0,5 percentage points, "- he says Bigness.ru. Meanwhile, says analyst with Aton, Inga Focsa, the actions of central banks have had a very mild effect on the market. "This is not surprising - the market is such that initially absorbs all expectations. That is why we have seen the strengthening of the dollar in two days before "- she said Bigness.ru.