Stock Market Today

MOSCOW -(Dow Jones)- Russia would face an economic recession of up to twoyears, if oil costs were to fall to $50 per barrel, Odd Per Brekk, theInternational Monetary Fund’s representative in Moscow, said Wednesday.

On Tuesday, the IMF lowered its projection for Russian economic growth thisyear to four.3% from a previous forecast of four.8%, citing a worsened outlook for oilprices and continued capital outflow.

A continuation of Russia’s current economic policies and its failure todiversify its dependence on commodity exports “would amplify Russia’svulnerability to external shocks,” Brekk said at a briefing Wednesday.

“If oil costs fall to $50 per barrel in 2012 and stays there, Russia willhave a recession for a year or two,” Brekk added.

The Russian Urals crude oil benchmark was trading at $111.18 at 1301 GMT andhas been hovering above $100 a barrel given that February. But the IMF warned thatprices may slide, if the recent fear of a new global economic slowdownmaterializes, which in turn would hurt resource-rich economies like Russia.

-By Jacob Gronholt-Pedersen, Dow Jones Newswires, +7 495 232-9197;

jacob.pedersen@dowjones.com

 (End) Dow Jones Newswires 09-21-110918ET Copyright (c) 2011 Dow Jones & Company, Inc.

WASHINGTON -(Dow Jones)- The Federal Open Market Committee resumed the secondday of its two-day meeting Wednesday at 9 a.m. EDT, the Federal Reserve said.

Fed officials are expected to debate new ways to ease credit to help support asluggish U.S. economy. A statement is expected inside the afternoon.

-By Jeffrey Sparshott, Dow Jones Newswires; 202-862-9291; jeffrey.sparshott@dowjones.com

 (Finish) Dow Jones Newswires 09-21-110923ET Copyright (c) 2011 Dow Jones & Company, Inc.

WASHINGTON -(Dow Jones)- The Federal Open Market Committee resumed the secondday of its two-day meeting Wednesday at 9 a.m. EDT, the Federal Reserve said.

Fed officials are expected to debate new ways to ease credit to help support asluggish U.S. economy. A statement is expected inside the afternoon.

-By Jeffrey Sparshott, Dow Jones Newswires; 202-862-9291; jeffrey.sparshott@dowjones.com

 (Finish) Dow Jones Newswires 09-21-110923ET Copyright (c) 2011 Dow Jones & Company, Inc.

WARSAW -(Dow Jones)- The weaker Polish currency could raise the country’s debtratios for 2011 and 2012, Finance Minister Jacek Rostowski said Wednesday.

“For this year and next year it could be slightly higher than we expected dueto the weakening of the zloty,” Rostowski told reporters.

The ministry predicts the deficit will account for 2.9% of gross domesticproduct in 2012. Rostowski said that forecast won’t change if the economy growsless than 4% of GDP, the ministry’s forecast for next year.

 (End) Dow Jones Newswires 09-21-110931ET Copyright (c) 2011 Dow Jones & Company, Inc.

WARSAW -(Dow Jones)- The weaker Polish currency could raise the country’s debtratios for 2011 and 2012, Finance Minister Jacek Rostowski said Wednesday.

“For this year and next year it could be slightly higher than we expected dueto the weakening of the zloty,” Rostowski told reporters.

The ministry predicts the deficit will account for 2.9% of gross domesticproduct in 2012. Rostowski said that forecast won’t change if the economy growsless than 4% of GDP, the ministry’s forecast for next year.

 (End) Dow Jones Newswires 09-21-110931ET Copyright (c) 2011 Dow Jones & Company, Inc.