Rouble steadies vs dollar after rate hike, capital controls speculation

The Bank of Russia jacked up its key rate to 12% on Tuesday, an emergency move to try and halt the rouble's recent slide past the symbolic 100 threshold, but analysts agreed that more measures may be needed to return the rouble to the 80-90 range authorities have deemed acceptable. Authorities are discussing bringing back the compulsory sale of foreign currency revenues for exporters, five sources told Reuters. Beyond rate hikes and capital controls, Moscow has some other options, though none particularly favourable.