finances

Is Bank of Russia ready to cut key rate?

Russia's Central Bank chief Elvira Nabiullina said that the Bank of Russia is ready to consider an opportunity for reduction of the key rate in the short run. "We raised the key rate at the turn of the last …

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Russia's Central Bank ready for rate cut?

Russian central bank Governor Elvira Nabiullina said that a cut to the key interest rate was still possible in the second or third quarter of 2019. The central bank has continued the policy of diversifying its …

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Sberbank shareholders reelect Gref as CEO

The shareholders of Russia’s biggest lender Sberbank reelected German Gref as CEO of the bank for a period of four years, at an annual general meeting today. The current contract of Gref will expire by …

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Russia’s currency reserves reach $500 bln

The Russian Central Bank Chief Elvira Nabiullina said that Russia’s gold and foreign currency reserves stand at a comfortable level and have almost reached the $500 billion target. "Last year reserves …

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 Russia's Central Bank keeps key rate unchanged

The board of directors of Russia's Central Bank held its key interest rate at 7.75% today in line with market expectations, but said it could consider cutting rates as early as June. "If the situation develops in line with …

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Azerbaijan's central bank cuts rate to 8.75%

Azerbaijan’s central bank cut its refinancing rate to 8.75% from 9%, CBA Chairman Elman Rustamov said. The central bank also lowered its rate corridor by the same margin, nudging the lower boundary down to …

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ADB providing loans to rural households in Georgia

The Asian Development Bank (ADB) is providing a 60 million Georgian lari ($22.3 million) loan and a $500,000 technical assistance grant to Georgia's Credo Bank to launch new products including home improvement and mortgage loans to lower …

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Russia refuses to place Eurobonds

Russia's Finance Ministry sees no particular need to issue Eurobonds this year, Deputy Russian Finance Minister Sergei Storchak said. The Finance Ministry plans to focus on the domestic debt market, he noted, describing …

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U.S. dollar weakening predicted

The U.S. dollar exchange rate against a basket of major currencies may drop by 6% by the end of 2019, according to Morgan Stanley experts. They expect the U.S. currency will depreciate because of the U.S .economic slowdown and the Federal …

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