Russian Central Bank

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 …

Russian Central Bank ready to reduce key rate this year

Russian Central Bank ready to reduce key rate this year

The Russian Central Bank may cut the key rate by 25 or 50 basis points in the second quarter of this year, the bank's governor Elvira Nabiullina said. "On the whole the current economic situation inspires hope. …

Russians do not want #039Mir#039

Russians do not want 'Mir'

More than two-thirds of Russians (70%) do not plan to open a "Mir" payment card, according to a poll conducted by the Russia Public Opinion Research Center (VCIOM). Only 20% of Russians plan to get the card, 3% already have …

Bank of Russia#039s First Deputy Governor on ruble appreciation

Bank of Russia's First Deputy Governor on ruble appreciation

The first-quarter ruble appreciation was mainly caused by foreign trade revenue inflows, Bank of Russia's First Deputy Governor Ksenia Yudaeva said. "That is why the first-quarter ruble appreciation was mainly …

Bank of Russia warns of oil declining to $40-45 per barrel

Bank of Russia warns of oil declining to $40-45 per barrel

Short-term global oil prices could decline to $40-45 per barrel, Bank of Russia's First Deputy Governor Ksenia Yudaeva said. She recalled that the six-month agreement between major oil producers has balanced the …

 Government predicts economic growth in Russia

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 …

Russian Central Bank Chief predicts economic growth in Russia

Russian Central Bank Chief predicts economic growth in Russia

Russia’s economic growth rates will stabilize at the level of 1.5-2% even if the oil price goes down, Russia's Central Bank Chief Elvira Nabiullina said. "The potential economic growth amount to 1.5-2% if …

 Russia and Ukraine to be divided by financial #039iron curtain#039

Russia and Ukraine to be divided by financial 'iron curtain'

Russian President Vladimir Putin has signed a law today which bans money transfers to Ukraine via foreign payment systems.  The document has been published on the official Internet portal of legal information of …

 Russian banks #039lost#039 100 billion rubles in year

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 …

Russia’s Central Bank chief: recovery of banking system to take 2-3 years

Russia’s Central Bank chief: recovery of banking system to take 2-3 years

The recovery of Russia’s banking system will take 2-3 years, the Russian Central Bank’s chief Elvira Nabiullina said. "The key priority for the Bank of Russia is to get rid of unscrupulous, …

Valery Nesterov: Oil will remain at the level of $ 50 per barrel

Valery Nesterov: "Oil will remain at the level of $ 50 per barrel"

Today, the Central Bank of the Russian Federation announced a conservative forecast for the oil prices

Russia#039s central bank head: we plan to cut key rate gradually, pauses possible

Russia's central bank head: we plan to cut key rate gradually, pauses possible

Russia's central bank would cut its key rate gradually, the banks' Governor Elvira Nabiullina said. The bank would cut rates gradually in the medium term and pauses between cuts are possible, Nabiullina …

Oreshkin: Russian government economic efforts to speed interest rate cuts

Oreshkin: Russian government economic efforts to speed interest rate cuts

The Russian government's work to create a predictable economic environment should help bring forward more interest rate cuts, the country's economy minister Maxim Oreshkin said. He was commenting after the …

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 …

 Putin to nominate Russia#039s Central Bank chief Nabiullina for new term

Putin to nominate Russia's Central Bank chief Nabiullina for new term

Russian President Vladimir Putin said that he would nominate the Russian central bank governor Elvira Nabiullina for a new term. The announcement of her new term came at a meeting between Putin and …

 Kremlin: Putin#039s meeting with central bank head not to touch on #039week of silence#039

Kremlin: Putin's meeting with central bank head not to touch on 'week of silence'

Russian President Vladimir Putin will meet the Russian Central Bank Governor Elvira Nabiullina today, the Kremlin's spokesman Dmitry Peskov said. The spokesman added that the …

Russian finance minister: rouble overvalued by 10-12%

Russian finance minister: rouble overvalued by 10-12%

Russian Finance Minister Anton Siluanov said that the rouble is overvalued by up to 12%, making it a good time for foreign currency purchases under which the ministry may buy at least $1 billion in 2017

 VTB CEO: Russia#039s key interest rate could be cut

VTB CEO: Russia's key interest rate could be cut

VTB Bank Chief Executive Andrei Kostin said he thought there was scope for rate cuts in Russia and that the key rate, now at 10 percent, could be cut by 0.25-0.50 percentage points. Kostin was speaking to journalists on …

 Russian finance ministry plans to buy FX bypassing Central Bank

Russian finance ministry plans to buy FX bypassing Central Bank

The treasury - which is a part of the Russian finance ministry - may start independently buying foreign currency on the market without the central bank involvement from 2018, the head of the treasury, Roman Artyukhin, …

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 …

Russian Finance Ministry to spend 70.5 bln rubles on foreign currency purchases

Russian Finance Ministry to spend 70.5 bln rubles on foreign currency purchases

Russia's Finance Ministry plans to spend 70.5 bln rubles ($1.2 bln) on foreign currency purchases on the domestic market during the period from March 7 to April 6, 2017, the Ministry said in a statement.

Russian Central Bank revokes licenses of four banks

Russian Central Bank revokes licenses of four banks

The Russian Central Bank made a decision to recall the banking licenses of one Moscow bank and three banks located in Kazan, the press service of the Central Bank said. According to the statement, the banks failed to comply the …

Russia#039s reserve fund declines to $16.07 billion over February

Russia's reserve fund declines to $16.07 billion over February

Russia's Reserve Fund declined slightly to $16.07 billion by March 1 from $16.18 billion at the start of the previous month, Russia's finance ministry data showed. The Reserve Fund, which was accumulated over years of high oil …

Are Russians interested in Finance Ministry#039s OFZ bonds?

Are Russians interested in Finance Ministry's OFZ bonds?

The project of issuing "people's" OFZ bonds, announced by Russia's Ministry of Finance on Monday, raises a lot of questions and looks fishy rather than appealing for the public, economists Sergey Hestanov and …

Russian Central Bank#039s head fears of new ‘black swans’

Russian Central Bank's head fears of new ‘black swans’

The Central Bank of Russia is highly conservative in its forecasts because of risks of new ‘black swans’ appearance, the Chairperson of the Bank of Russia Elvira Nabiullina said. "The higher level of uncertainty in the …

Freely floating exchange rate ds a lot of problems in Russian economy

Freely floating exchange rate damps a lot of problems in Russian economy

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All Russia's crises took place in radically different epochs of economic development

Recovery of Russian banking sector may take several years

Recovery of Russian banking sector may take several years

Financial rehabilitation of Russian banking sector may take several years more, Chairperson of the Bank of Russia Elvira Nabiullina said. "The period of proactive recovery of the banking system will continue for …

Russia’s Central Bank: GDP declines in 2016

Russia’s Central Bank: GDP declines in 2016

Russia’s GDP reduction amounted to 0.2% in 2016, but dynamics turned positive in the fourth quarter of 2016, the Central Bank reported. "In 2016, GDP reduction amounted to 0.2%. In the fourth quarter, GDP turned …

Alexander Abramov: There#039s every reason for Russian Central Bank to lower interest rate

Alexander Abramov: "There's every reason for Russian Central Bank to lower interest rate"

Professor of the Higher School of Economics on the decision of Central Bank to leave interest rate at 10% level

Russian finance ministry announces volume of currency purchase operations

Russian finance ministry announces volume of currency purchase operations

The Russian central bank will buy the equivalent of 6.3 billion rubles ($106 million at current market prices) a day on the Moscow Exchange this month to replenish the country's fiscal reserves, the Russian finance ministry said. …