Russian economy

Russia’s Central Bank cuts key rate to 7%

The board of directors of Russia's Central Bank has cut its key rate today by 25 bp to 7.00% per annum. Commenting on the decision, the regulator's press service said that inflation slowdown is continuing, but inflation …

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Georgia's National Bank increases refinancing rate

The National Bank of Georgia has increased the refinancing rate by 0.5 percentage points to 7%. The depreciation of the exchange rate has boosted inflationary expectations, the NBG says, therefore the refinancing rate has been …

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"Lending cycle phase change" coming down on Russia

Next year, the Russian economy is expected to face problems associated with a lending cycle phase change - this conclusion follows from the 2019-2024 macro forecast published by the Russian Economic Development Ministry. Russia's …

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 Moody’s changes Russia’s GDP growth outlook

International rating agency Moody’s has cut its Russia’s 2019 gross domestic product growth forecast to 1.2% from 1.6%, the agency said in the Global Macro Outlook 2019-2020 report. The 2020 forecast was kept at 1.5%. …

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Deflation reaches Russia

Russia's consumer prices fell by 0.1% from August 6 to 12, according to the Rosstat data. A week earlier, inflation reached 0, and since the beginning of this year it gained 2.6%. On August 12, annual inflation reached about …

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Russia's sovereign rating upgrade by Fitch

Russia's credit rating was lifted on Friday by Fitch Ratings, which cited strong fiscal policies and a commitment to inflation-targeting, Business Times reported. The sovereign rating was lifted to "BBB", the second lowest …

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 Putin reports on state of Russian economy

Russian President Vladimir Putin said that the country's economy has overcome those difficulties that were caused by internal and external shocks, including those related to restrictions and slumping prices on export …

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