俄罗斯称已走出经济风暴最黑暗时期

Russian authorities signaled on Wednesday that the country had weathered the worst of an economic storm caused by the annexation of Crimea, but acknowledged that the crisis had taken a toll on economic growth and driven up inflation.

俄罗斯政府周三暗示，该国已渡过了吞并克里米亚引发的经济风暴的最黑暗期，但同时也承认这场危机给经济增长造成了严重影响并推高了通货膨胀。

Russia's occupation of the Ukrainian region had sent the Russian economy into a downward spiral, triggering massive capital outflows and sending the ruble to all-time lows. The limited Western sanctions that followed created unease at firs, but didn't take a large bite out of the broader economy which appears to have settled in recent weeks, paving the way for a recovery but perhaps in greater isolation from global financial systems.

俄罗斯占领乌克兰克里米亚地区导致俄罗斯经济陷入螺旋下跌局面，引发资金大举外流，并拖累俄罗斯卢布跌至纪录低点。西方国家随后采取的有限制裁措施最初曾引起不安，但是并未给俄罗斯整体经济造成较大影响，最近几周俄罗斯经济形势似乎已经稳定下来，为复苏铺平了道路，不过该国或许会面临全球金融体系的更大孤立。

In a sign of confidence that the ruble had regained some strength, Finance Minister Anton Siluanov said Wednesday that the ministry will resume buying foreign currencies to replenish the country's rainy-day reserve fund in the coming days. The daily purchases of 3.5 billion rubles ($99.8 million) of foreign currencies were halted on March 4 to reduce downside pressure on the battered ruble.

俄罗斯财政部长Anton Siluanov周三表示，未来几天财政部将恢复购买外币，补充该国急需的储备资金，这显示出对卢布的信心有所恢复，该货币已重拾一些上涨动能。为缓解倍受打击的卢布的下跌压力，财政部3月4日暂停购买外币，当时财政部每日购买的规模为价值35亿卢布（合9,980万美元）的外币。

While the announcement of the plan on Wednesday caused the ruble to weaken 0.7% to 35.35 versus the dollar, it has pulled back significantly from its all-time low of 37 rubles per dollar on March 3, although with much help from the central bank. The Bank of Russia said it had spent $22.3 billion and EUR2.3 billion ($3.2 billion) from its reserves to support the ruble in March--its largest intervention since January 2009.

财政部周三公布上述计划后，虽然卢布兑美元下跌了0.7%，至1美元兑35.35卢布，但是较3月3日触及的纪录低点1美元兑37卢布已经大幅回升，不过这主要得益于俄罗斯央行出手相助。俄罗斯央行表示，为了支撑卢布，3月份抛售了223亿美元和23亿欧元（合32亿美元）外汇储备来支撑卢布，这是自2009年1月份以来汇市干预力度最大的一个月。

Also on Wednesday, the finance ministry held its first auction of treasury bonds since late February, indicating that it is ready to borrow at higher costs as yields for its 10-year bonds jumped to nearly 9% from around 8% two months ago.

同样是在周三，俄罗斯财政部举行了自2月底以来的首次国债拍卖，这表明财政部准备以更高成本借债，因为俄罗斯10年期国债收益率已经由两个月前的大约8%升到了近9%。

'This auction is some kind of a sign that the market is starting to function in normal mode. But I think that it would be premature to say that Russia is fully returning into the old reality,' said Vladimir Kolychev, chief economist at VTB Capital.

VTB Capital的首席经济学家科雷切夫(Vladimir Kolychev)表示，本次拍卖从某种程度上表明市场已开始正常运转。但是他认为现在判断俄罗斯正彻底恢复以往的状态还为时尚早。

Bank of Russia Chairwoman Elvira Nabiullina said Wednesday that there are no plans to cut interest rates before June, meaning that a temporary decision to hike rates by 150 basis points in early March to bolster the plummeting ruble would remain in effect for at least three months, despite a slowdown in economic growth.

俄罗斯央行行长纳比乌林娜(Elvira Nabiullina)周三表示，不准备在6月份前降息。这意味着尽管俄罗斯经济增长放缓，但3月初加息150个基点以提振暴跌的卢比的临时决定将至少再继续生效三个月。

Ms. Nabiullina said the central bank's main target--consumer inflation--is on track to exceed this year's target of 5%, while economic growth may not reach even 1%.

纳比乌林娜称，作为该行主要政策调控对象的通胀率今年将超过5%的目标，同时经济增长率可能连1%都达不到。

But as Moscow finds itself increasingly isolated in its standoff with the West over Crimea, President Vladimir Putin has pushed for greater economic self-sufficiency--for example, ordering the creation of a national electronic payment system that would mean Russia isn't dependent on Visa Inc. or MasterCard Inc. Both companies limited their international payment systems for the Russian banks that were affected by sanctions.

不过，在克里米亚问题上与西方陷入僵局而日益被孤立后，俄罗斯总统普京(Vladimir Putin)已采取措施推动国内经济增加自给能力。他要求建立一个俄罗斯自己的电子支付系统，从而不再依赖Visa Inc.或MasterCard Inc.。这两家公司已限制西方制裁举措涉及的俄罗斯银行使用其国际支付系统。

Andrei Kostin, the head of Russia's second-largest lender VTB, said Wednesday that the national payment system should be created 'as soon as possible.' Speaking at a banking forum, Mr. Kostin said that Russia should also switch its international trade to rubles and the first steps should be taken by export-focused companies, such as Gazprom and Rosneft.

俄罗斯第二大银行俄罗斯外贸银行(VTB)首席执行长科斯京(Andrei Kostin)周三表示，应尽快建立自己的支付系统。科斯京在一次银行业论坛上说，俄罗斯还应该转为使用卢布开展国际贸易，由俄罗斯天然气工业股份公司(Gazprom)和Rosneft这样的出口型企业率先采取行动。

Mr. Kostin said that Russia now faces a kind of financial 'cold war' and that Russian institutions should do everything possible to avoid it becoming 'a hot financial war.'

科斯京称，俄罗斯目前面临某种金融“冷战”，国内机构应尽力避免这演变为“一场金融热战”。

Russia is also preparing to create its own rating agency. Valentina Matvienko, the speaker of Russia's upper house of parliament and a target of western sanctions herself, said Wednesday that parliament will meet next week to discuss a national rating agency, which would be objective and independent from the political environment.

俄罗斯还准备成立自己的评级机构。俄罗斯上议院议长、西方制裁对象之一的马特维延科(Valentina Matvienko)周三表示，议会下周将举行会议，讨论成立一家评级机构的事宜，该机构将客观地开展工作，不受政治坏境影响。

All three international credit-rating firms--Standard&Poor's, Fitch and Moody's--have downgraded Russia's sovereign rating outlook following Moscow's move to annex Crimea.

在俄罗斯吞并克里米亚后，标准普尔(Standard&Poor's)、惠誉国际评级(Fitch)和穆迪(Moody's)这三大国际评级机构均已下调俄罗斯主权评级前景。