Alexander Abramov

Increased faith in Russia's business

Business confidence in Russia's economy has reached a maximum level over the past two years, according to the survey of the Ernst & Young (EY), multinational professional services firm headquartered in London. "The survey …

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Russia's Central Bank expectedly keeps key rate

The board of directors of Russia’s Central Bank decided to keep the key rate at 9% per annum, the regulator said in a press release. The board of directors noted that inflation remains near the target level, and the recovery …

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Has Russian ruble 'matured'?

The declining role of foreign currency in Russia's economy is "a sign of a growing ruble', the Director of the Bank of Russia Monetary Policy Department, Igor Dmitriev, said. "Try to remember when you …

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Russia to grow by 1.3-1.8%

Russia's Central Bank Governor Elvira Nabiullina said that economic growth of 1.3-1.8 percent is expected for this year. "The global economy is entering a new cycle of increasing cyber risks that endanger …

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Drop in oil prices cost each Russian $965

A drop in oil prices cost Russia $965 of gold and foreign exchange reserves per person to cope with the risks of devaluation of national currencies, the Izvestia newspaper reported with reference to the research data of FinExpertiza. …

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Dollar exceeds 60 rubles again

Today the US currency during the trading process at the Moscow Stock Exchange has crossed its psychological barrier of 60 rubles for the first time since February 2017. The cost of the euro has crossed the barrier of 67 rubles for the first …

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Russian Central Bank cuts key rate to 9%

The board of directors of Russia’s Central Bank has decided to cut its key interest rate to 9.00% per annum. "The Board notes that inflation is close to the target, inflation expectations keep declining, and economic activity …

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Why will low inflation not save Russian economy?

The excessively rapid decline in inflation is not a healthy process, it will be rather a problem for Russia's economy, the head of Sberbank German Gref said during a broadcast on the Rossiya 24 TV channel. According …

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Russian Central Bank close to its goal

Inflation in Russia has dropped to 4.1% in annual terms, Chairman of the Central Bank Elvira Nabiullina said. "In March, inflation has dropped to 4.3%. As of April 17, inflation has already dropped to 4.1% in …

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 Government predicts economic growth in Russia

Russian Economic Development Minister Maxim Oreshkin said that the data for the first months of this year indicate that the Russian economy has entered a new phase of growth. However, in order to increase it, it is necessary …

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 Russian banks 'lost' 100 billion rubles in year

The Russian government is concerned about the reliability of the domestic banking system, the Russian Finance Minister Anton Siluanov said at the convention of the Association of Russian Banks. "We have lost more …

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Russian Central Bank symbolically cut its key rate

The board of directors of Russia’s Central Bank has decided to cut its key interest rate for the first time since September 2016 by 25 basis points to 9.75% per annum. "The Board of Directors notes that inflation slowdown …

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Ruble strengthens during New Year holidays

While Russia was celebrating the New Year, the Russian national currency has been steadily growing, partly ceased to be dependent on oil prices and the dollar due to the rise in the US Federal Reserve's rate. On January 3, the …

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2016 marked by crisis for Russians

The crisis, rising prices and the difficult economic situation in the country have been the most significant event of 2016 for 40% of Russians, according to a survey conducted by the research holding Romir. In comparison with 2015, the …

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