The western sanctions and falling oil prices destroy the Russian economy. However, this is only the beginning of some serious problems - Russia has a period of high inflation and mass company bankruptcies ahead of it. The government foresees the recession in 2015.
On the last day of October the Bank of Russia raised the interest rates by 150 base points up to 9.5 percent. The decision was quite a surprise - the expected level of the raise was only 50 base points and it proved to be three times higher.
Piotr Lonczak, Cinkciarz.pl analyst