Today’s Economy 

Today,  Russian central bank slashes key interest rate to 12.5% responding to a rally in the rouble  and signs that inflation has peaked.  

Fitch Rating Agency said Turkey’s capacity for external rebalancing is demonstrated by various measures, including its falling current account deficit. However, Fitch warned Turkey’s reliance on external financing remains large. 

The necessary information about Fitch saying that India Less Vulnerable to Fed Risk Among Fragile Five: India, Brazil, Indonesia, South Africa and Turkey. 

  

When I analyze the  Current Account to GDP for India and Turkey, I can see the effects of oil prices’ fall this year, but still there is current account deficit large, especially in Turkey. 

Federal Reserve (FED) Interest Rate Decision 

       

Today, Fed keeps interest rate hold and it kept its key interest rate unchanged and gold falls after fed doesn’t rule out 2015 rate rise. 

Crude oil dips as oversupply outweighs Saudi royal reshuffle and ends above 58 $ a barrel after supply data. 

USD/Euro parity for last 5 days and after the Fed statement today, shares fall on U.S. GDP data, weak earnings; dollar slides.

Today, Fed also mentioned about inflation and said that Energy, import-price effects on inflation to be transitory.