Source: Central Bank of the Russian Federation in English
22 May 2020
According to the new issue of Financial Pulse, a weekly analytical review, the Russian economy was showing tentative signs of a recovery between late April and early May.
At the same time, May’s poll data point to the emergence of deferred secondary effects of the restrictions. This may slow down the pace of economic recovery following the most acute phase of the coronavirus pandemic.
For all the rising optimism as countries gradually exit lockdowns, global financial markets remain sensitive to news about the duration of the pandemic and the scale of the downturn in the global economy. Having said that, Russian markets posted overall positive trends this week. As the ruble strengthened and country risk premiums for Russia declined, foreign investors ramped up their OFZ purchases and resumed buying Russian companies’ shares.