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Bank of Russia Cuts 2015 Economic Forecast to Show No Growth
Russia's central bank cut its base-case economic forecast for next year to show no growth, assuming sanctions remain in place and oil averages $95 a barrel.
The regulator also pushed back its medium-term inflation target of 4 percent to 2017 from 2016, according to a revised monetary policy plan for 2015-17 released today. The base-case scenario sees sanctions lasting through the end of 2017.
Russian central bank abandons rouble trading band, floats rouble
The Russian central bank said on Monday it had abandoned the rouble's trading corridor, allowing the currency to float freely.
The bank also said in a statement it would intervene in the foreign currency market if it saw a threat to financial stability. (Reporting by Lidia Kelly and Elena Fabrichnaya; Writing by Lidia Kelly, editing by Elizabeth Piper)
Gold Bulls Accelerate Retreat to This Year's Fastest Pace
Hedge funds made their biggest cut of the year in bullish gold wagers as prices tumbled to the lowest since 2010.
The net-long position in New York futures and options contracted 36 percent as long holdings fell the most in almost two years, U.S. government data show. Investors sold 22.4 metric tons of bullion held through exchange-traded products last week, trimming assets to the least since August 2009.
Dollar lower, franc within sight of SNB ceiling vs euro
The dollar made a poor start to the week on Monday, with some investors still seeing Friday's weaker than expected U.S. jobs numbers as an excuse to pause after three strong weeks of gains.
The Swiss franc EURCHF= was back on the verge of the central bank's 1.20 franc ceiling versus the euro after another week that highlighted the euro zone's problems.
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