Russia’s central bank will hold an emergency meeting on Thursday to consider its key interest rate, it said. The central bank, which has set the next meeting of its monetary policy for June 10, will announce its decision on interest rates tomorrow (10:30 Greek time), after the extraordinary meeting. It is recalled that the central […]
Tag: central bank of russia
Russia: The central bank reduced the key interest rate to 14%
Russia’s central bank cut its key interest rate to 14%, a larger-than-expected drop, and said there was room for further cuts this year as it tries to manage a slowdown in the economy and a spike in inflation. The central bank was meeting today after the unexpected reduction of the key interest rate to 17% […]
Inflation in Russia at 20 years high: Launched at 17.49%
LAST UPDATE 19:42 Annual inflation in Russia accelerated to 17.49% on April 8, the highest level since February 2002, from 16.70% a week earlier, the Economy Ministry said on Wednesday. Inflation in Russia will continue to accelerate on an annual basis, the central bank announced on Wednesday, warning that the ruble instability will continue, leading […]
Russia’s central bank cuts monthly foreign trade data
Russia’s central bank announced on Monday that it had temporarily suspended its monthly foreign trade data in its first such suspension since 1997. The central bank was due to release its January-February foreign trade balance on Monday. initially scheduled according to the data publication schedule. The central bank has not explained what lies behind its […]
Russia: Central bank cuts interest rates by 300 basis points to 17% (upd)
LAST UPDATE 12:33 Russia’s central bank cut its key interest rate to 17% from 20% at its meeting today. The central bank also announced that inflation (on an annual basis) will continue to rise, adding that the tight monetary conditions already in place will continue to reduce pre-inflationary risks. In a statement, the central bank […]
Russia: Loosens restrictions on foreign capital transfers
Russia’s central bank has announced that it is easing restrictions on foreign capital transfers for individuals over a six-month period. The bank stressed that the measures, which raise an earlier limit on funds that can be transferred abroad, do not apply to residents and citizens of countries that had imposed sanctions against Russia on Ukraine. […]
Russia: Svetsov remains an adviser to the head of the central bank
Russia’s central bank deputy governor Sergei Shvetsov has resigned, as announced in January, but will remain an adviser to central bank governor Elvira Nabiullina. Since the announcement of Shvetsov’s departure, developments in Ukraine and the ensuing barrage of sanctions against Moscow have forced the central bank to raise interest rates sharply from 9.5% to 20% […]
The central bank of Russia kept the interest rate at 20%
Russia’s central bank maintained its key interest rate at 20% on Friday, following a sharp rise in interest rates in late February to support financial stability, and warned of higher inflation and a contraction in the economy. The central bank met today after raising interest rates from 9.5% on February 8 to 20% when the […]
Russia: Putin proposes renewal of Nabiulina’s term at central bank
Russian President Vladimir Putin has proposed renewing the term of Russia’s central bank chief Elvira Nabiulina for another four years. The lower house (Duma) will consider the proposal on March 21, according to its website. Nabiulina, the country’s first female central banker, economist and former Putin adviser, was appointed in 2013, much to her surprise. […]
Central Bank of Russia ‘war measures’ – Restricts business access to hard currency
Russia’s central bank announced on Thursday that it was imposing restrictions on Russian businesses’ access to foreign currency for at least the next six months. During the six-month period, Russian companies and Russian businessmen who need US dollars, Japanese yen, British pound sterling or euros in cash can raise just $ 5,000 – and only […]
