Fabrib
Forumer storico
The Russian central bank, which had promised to support government bonds with interventions amid a massive sell-off, said on Thursday it has not purchased OFZ government bonds since March 23.
Days after Russia began what it calls "a special military operation" in Ukraine on Feb. 24, the central bank suspended trading on the Moscow Exchange for nearly a month and barred non-residents from trading OFZ bonds.
The central bank vouched to buy rouble-denominated OFZ bonds to support the domestic debt market when it reopened on March 21. But the intervention volumes "were not substantial," it said in a report on financial risks.
"The central bank has not bought OFZs since March 23 amid a stabilisation in expectations on the state debt market. Thus, pricing on the OFZ market has a purely market nature," it said. RTRS
Days after Russia began what it calls "a special military operation" in Ukraine on Feb. 24, the central bank suspended trading on the Moscow Exchange for nearly a month and barred non-residents from trading OFZ bonds.
The central bank vouched to buy rouble-denominated OFZ bonds to support the domestic debt market when it reopened on March 21. But the intervention volumes "were not substantial," it said in a report on financial risks.
"The central bank has not bought OFZs since March 23 amid a stabilisation in expectations on the state debt market. Thus, pricing on the OFZ market has a purely market nature," it said. RTRS
