Yuri Yudenkov

Russia’s Central Bank pauses key rate cuts

The Board of Directors of the Russian Central Bank decided to keep the key rate at 7.25% per annum, based on the results of its meeting today. "Annual inflation remains low. The April weakening in the ruble against the backdrop of …

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48t World Economic Forum opens in Davos

The 48th World Economic Forum kicks off in Davos today. It will be held amid the most impressive global economic growth over the past ten years and a positive outlook. The forum this year will be visited by a record number of political …

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9th Gaidar Forum starts in Moscow

Today, the 9th Gaidar Forum started at the Russian Presidential Academy of National Economy and Public Administration in Moscow, it will last until 18 January. The key theme of the forum  - 'Russia and the World: goals and …

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 Russia to purchase record volume of dollars

Russia's finance ministry said it will increase its daily purchases of foreign currency for state reserves to the equivalent of 15.1 billion rubles ($265.10 million) between January 15 and February 6. Total purchases for the …

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Russian Central Bank to 'bail out' Promsvyazbank

Russia's central bank said that it had put Promsvyazbank under temporary administration as part of a bailout plan. The central bank said in a statement it was providing funds to support Promsvyazbank’s liquidity and would send …

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Bitcoin: another day, another record

Bitcoin exchange rate soared more than 23%, smashing through the $18,000 benchmark for the first time ever, according to the data from Coinmarketcap.  The exchange rate surge over the past day amounted to $4,000. On …

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Oreshkin: Russia is US in early 1980s

Russian Economic Development Minister Maxim Oreshkin compared the current situation in Russia's economy with the state of affairs in the US economy in the first half of the 1980s. According to him, low and steady …

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What do Russian people need?

Russians believe that the most serious problems that the country faces now are connected with low salaries and living standards, the state of economy and the current social policy, a survey conducted by the Russian Public Opinion Research Center …

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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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Do Russian banks continue withdrawing from ARB?

A number of Russian banks are ready to follow the eight largest banks that have declared their readiness to withdraw from the Association of Russian Banks (ARB). "Those who disagreed with a policy of the head of the ARB Garegin …

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US Fed retains interest rate, but not for long

US Federal Reserve's Open Market Committee (FOMC) kept interest rates unchanged, while at the past committee's meeting in mid-June the target rate was raised to 1-1.25% from 0.75-1.0%. The Fed also raised the rate in March, …

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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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Russian banks hit record profits

The Russian banking sector's profits in the first half of this year exceeded 750 billion rubles, which is a historic high for the Russian Federation, according to the Bank of Russia's information and analytical material for the …

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Russians support state control of food prices

Vast majority of Russians believe that only the state should establish and regulate food prices, annual issue of "Russian Monitoring of Economic Situation and Population Health", conducted by the Higher School of Economics, says. …

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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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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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