Anatoly Aksakov

Russian Central Bank close to its goal

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 …

Dollar reaches 55 rubles again

Dollar reaches 55 rubles again

The ruble exchange rate is strengthening against the dollar and the euro on the Moscow Stock Exchange: the dollar declined by 0.18 rubles and was worth 55.9 rubles,  The euro exchange rate fell 0.24 rubles and was worth 59.65 …

Russian Central Bank symbolically cut its key rate

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 …

Review of Russian banks extended until 2019

Review of Russian banks extended until 2019

Russia plans to extend a review of bank licenses for another two years, shutting down scores more banks after closing hundreds in the past four years, mostly for committing fraud or other crimes, Russia's central bank deputy governor …

Does ruble reach its maximum?

Does ruble reach its maximum?

Today's trading on the Moscow stock exchange resulted a sharp decline in the dollar and the euro exchange rates against the ruble. As of 10:40 (MSK), the euro exchange rate fell below the level of 60 rubles, and as of 11:40 it …

Russian government to deal with incomes of Russians

Russian government to deal with incomes of Russians

The main task of the Russian government at the moment is the restoration of incomes of the population, which strongly declined in recent years, the Russian Deputy Prime Minister Olga Golodets said at the Gaidar Forum today. …

US dollar hits 13-year highs

US dollar hits 13-year highs

The US Federal Reserve's decision to raise the interest rate to 0.50-0.75% led to a record growth in the US currency - the dollar hit 13-year highs …

Turkey ratifies Turkish Stream gas pipeline agreement

Turkey ratifies Turkish Stream gas pipeline agreement

The Russian-Turkish agreement on the Turkish stream gas pipeline project entered force today after being signed by the Turkish president Recep Tayyip Erdogan and published in the government’s official Resmi Gazete. …

What will stop drop in real incomes of Russians?

What will stop drop in real incomes of Russians?

Real incomes of Russians are falling more than volumes declining economy, the Government’s Deputy Prime Minister Olga Golodets said at the session titled 'Improving the welfare of the population as a driver of …

 Are retail banks resolving deadlock?

Are retail banks resolving deadlock?

Russian retail banks are getting out from losses, according to their financial statements for the first half of 2016. After writing off trouble loans, which have been issued under the old rules, the banks began to form smaller amount of reserves …

What helps to strengthen the ruble?

What helps to strengthen the ruble?

The strengthening of the ruble requires ‘fine tunings’ in relation to the export-oriented industries, the spokesman for the Russian president Vladimir Putin, Dmitry Peskov, said, commenting on the …

Will state begin to control expenses of Russians?

Will state begin to control expenses of Russians?

The Russian Ministry of Finance and the Federal Tax Service (FTS) are discussing the possibility of introducing the control of massive expenditure among population, the Vedomosti newspaper reports with reference to federal officials that the idea …

SPIEF 2016 kicks off in St.Petersburg

SPIEF 2016 kicks off in St.Petersburg

The XX St. Petersburg International Economic Forum (SPIEF) is opening today in the Expoforum congress and exhibition center. The event will be attended by representatives of 600 Russian and some 500 foreign companies from 60 countries - the …

Russia’s Central Bank lowers its key interest rate

Russia’s Central Bank lowers its key interest rate

The board of directors of Russia’s Central Bank has decided to cut its key interest rate to 10.5% for the first time in nearly a year. The Central Bank noted "the positive trends of more stable inflation, decreased …

What can revive Russian economy?

What can revive Russian economy?

At the session of the Economic Council's presidium, held on Wednesday, Russian President Vladimir Putin stated that previously existing sources of Russian economic growth have exhausted themselves, and that is why there is a …

Kudrin and Titov to fight for the future of Russian economy

Kudrin and Titov to fight for the future of Russian economy

President Vladimir Putin is to be represented two projects on May 25th for further development of the economy at the upcoming meeting of the Presidium of the Economic Council Russian. …

IMF and WB confident of stability of Russian banking system

IMF and WB confident of stability of Russian banking system

A joint International Monetary Fund (IMF) and World Bank (WB) mission visited Moscow on March 15-30 to conduct an assessment of the Russian financial sector. Its representatives met with the head of the Russian Central Bank, …

IMF: world economy on verge of collapse

IMF: world economy on verge of collapse

The International Monetary Fund warns that the risk of economic collapse is increasing, so we need to take immediate measures to stimulate demand. The International Monetary Fund's first deputy managing director, David …

Russian bankers express need for emergency measures to stabilize country#039s banking system

Russian bankers express need for emergency measures to stabilize country's banking system

The head of the Regional Banks Association and chairman of the Duma Committee on Economic Policy of Russia Anatoly Aksakov has sent a letter to the head of the Central Bank Elvira Nabiullina with information that …

 Russian Ministry of Economic Development intends to privatize Sberbank and VTB

Russian Ministry of Economic Development intends to privatize Sberbank and VTB

The Russian Ministry of Economic Development will prepare proposals on the privatization of Sberbank and VTB, the head of the Ministry, Alexei Ulyukayev, said, adding that it is necessary to accept changes to the legislation …

 Nabiullina: volatility of ruble dropped threefold since beginning of year

Nabiullina: volatility of ruble dropped threefold since beginning of year

The head of the Central Bank of the Russian Federation, Elvira Nabiullina said about the gradual reduction of exchange rate volatility. In her opinion, "the floating exchange rate regime is best suited to the …

Is ruble overvalued?

Is ruble overvalued?

Sberbank CIB experts said that today the ruble is overvalued, so it may fall in the near future. According to them, the Russian domestic currency may fall to 70-75 rubles per dollar. Against this background, experts estimate the …

Is Russia going through a banking crisis?

Is Russia going through a banking crisis?

There is a banking crisis in Russia. The Commissioner for Protection of the Rights of Entrepreneurs under the President of Russia, Boris Titov, stated this today at a round table organized by the Russian National Committee of the …

Is Russian Central Bank moving towards yuan?

Is Russian Central Bank moving towards yuan?

The Russian Central Bank has included the Chinese yuan in the list of the currencies used for investments of gold and foreign exchange reserves, however in the near future it does not plan to make operations on purchase of the assets nominated in …

One year since rouble’s floating rate

One year since rouble’s floating rate

A year ago, the Central Bank of Russia decided to start using a floating exchange rate. Summing up the results of the development of the Russian economy over the past 12 months, Bloomberg analysts …

Is everything okay with Russian banking system?

Is everything okay with Russian banking system?

The Deputy Chairman of the Executive Board of Sberbank, Bella Zlatkis, commented on the situation in the Russian banking system. According to her, "there is hardly a person who says that the banking system is …

Ruble defeats autumn depression

Ruble defeats autumn depression

Contrary to the fears of experts about the heavy fall for the Russian national currency, in September the ruble managed to hold above the strip of 70 rubles per dollar, and in October it started to rise. In particular, today the dollar exchange …

Russia to protect itself from crisis with #039airbag#039

Russia to protect itself from crisis with 'airbag'

The government of Russia is considering the creation of a special anti-crisis reserve for the next year. "Now we are discussing the creation of an anti-crisis financial reserve," Gazeta.ru cited a federal official as saying. …

EU announces new phase in sanctions war

EU announces new phase in sanctions war

The decision to extend sanctions against 149 Russian citizens and 37 organizations entered into force today. The statement was published in the Official Journal of the European Union. "The Council of the European Union …

Russian Ministry of Economic Development predicts oil at $38 per barrel, dollar at 70 rubles

Russian Ministry of Economic Development predicts oil at $38 per barrel, dollar at 70 rubles

Russian Ministry of Economic Development predicts oil at $38 per barrel, dollar at 70 rubles According to a new forecast of the Russian Ministry of Economic Development, the oil price at the end of 2015 will be $38 per barrel, and the dollar will ...