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Global and Russian financial markets in 2024

Author

Listed:
  • Alexander Abramov

    (RANEPA)

  • Alexander Radygin

    (Gaidar Institute for Economic Policy)

  • Maria Chernova

    (RANEPA)

Abstract

Between 2023 and 2024, global financial markets recovered from the 2022 downturn amid expectations of declining central bank interest rates, slowing inflation, and market actors’ confidence that major economies escaped recession. Completion oftheUS presidential election, removing uncertainties in expectations of the country’s future economic course, had an important stabilizing effect on financial markets in 2024. After the FRS top discount rate rose from 0.25% in March 2021to 5.0% in March 2023, causing a shock in the markets of almost all investment assets in the USA, it fell to 4.5% in December 2024. The ECB refinancing rate, after rising from 0% to 4.5% from June 2022 to October 2023, has fallen to 3.15% in December 2024 and 2.65% in March 2025. In 2024, China adopted a series of measures to ease monetary policy and support financial market, its economy maintained steady growth at 5%.

Suggested Citation

  • Alexander Abramov & Alexander Radygin & Maria Chernova, 2025. "Global and Russian financial markets in 2024," Published Papers ppaper-2025-1406, Gaidar Institute for Economic Policy, revised 2025.
    • Handle: RePEc:gai:ppaper:ppaper-2025-1406
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    File URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2025-1406.pdf
    File Function: Revised Version, 2025
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    More about this item

    Keywords

    Russian economy; stock market; bond market; corporate bond market; derivatives market; private investors;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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