Dmitry Medvedev stepped in to try to bolster confidence in Russia's plunging stock market yesterday, as the central bank injected $10bn into the banking system to alleviate a chronic credit shortage.
The RTS stock market index fell 4.4 per cent as investors shrugged off Mr Medvedev's comments
“In the end these changes are not dramatic,” Mr Medvedev said of the 49 per cent drop in the RTS index since its peak in May, which has wiped out $750bn worth of capitalisation. “If the right decisions are made, the situation will straighten out,” he said, RIA Novosti, the state news agency reported. “We will return to the levels that we saw at the start of the year. In any case, I believe this is in the power of the government.”
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