Low Risk/High Risk
Back in March the World Bank predicted two scenarios for Russia’s GDP in 2014/2015 given different levels of risk stemming from Russia’s annexation of Crimea. Russia’s Central Bank has now predicted growth in 2015 markedly lower than even the low-growth scenario predicted by the World Bank earlier this year and predicted higher inflation.
The central bank cut the growth forecast in its main outlook for 2015 to zero and pushed back its estimate for meeting an inflation target of 4 percent by one year from 2016, according to the revisions published today.
What We’re Reading:
Clear Evidence on Disincentives to Work (The Wall Street Journal)
For Sale: Luxury Condo; Can Survive Nuclear Attack (The Wall Street Journal)
HFT disease infecting bond market (The Wall Street Journal)
“The Difference Between How You Cook and How Companies Cook For You” (Lifehacker.com)
SEC Lets Eaton Vance Offer New Kind of ETF (The Wall Street Journal)
The Oldest Restaurant in Every State (Yahoo! Food)