India Budget to Catapult Reforms

As the Modi government presents its first full-year budget for 2015 on February 28, the expectations are that they will put forth a reasonably good budget. This budget will be the catapult used to introduce numerous reforms.   The belief is that the government will firm up the fiscal deficit numbers with a target reduction…

FX Market Update

The FX markets are relatively quiet, with most currencies well within their month-long ranges. Uncertainty remains with Greece, as a possible exit from the Euro still exists. The German-led bloc appears more willing to allow Greece to leave the EMU if they are unable to come to some kind of resolution soon. The broad theme…

Russia Cuts Key Interest Rate

33.80% change in RUB from just last month, going from a spot rate of 51.64 in December, to a high of 70.45 today.   Russia’s central bank lowered its key interest rate as a looming recession takes precedence over stabilizing the ruble and taming runaway inflation.   Billionaire Oleg Deripaska warned that economic activity will…