Alexander Abramov

Why Coronavirus fears hit ruble exchange rate?

The dollar exchange rate increased to 64.01 rubles at the Moscow Exchange today. As of 11:26 Moscow time, the dollar was 64.04 rubles (+0.23%), and the euro - 70. 96 rubles (+0.11%). For the last time, the dollar exchange rate …

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Russian banks reject more than 60% of loan applications

Russian banks rejected more than six in every 10 loan applications made last year, new data has shown. Only 36.9% of requested loans were granted in in Russia last year, down from 41% the year before, the National Bureau of Credit …

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Russians buying up dollars and euros before New Year

Russians are actively buying up dollars and euros before the New Year holidays, according to the Bank Russky Standart's report. "The end of 2019 is characterized by a slight plunge in dollar and rouble appreciation. The …

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Global economy continues to cool

The world economic climate deteriorated to the lowest level of 2009. According to the survey conducted among 1230 experts from 117 countries by the Munich-based Ifo Institute for Economic Research, the world economic climate has …

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Bank of Russia radically lowers key rate

The board of directors of Russia's Central Bank cut the key rate by 50 basis points to 6.5% today. "Inflation slowdown is overshooting the forecast. Inflation expectations continue to decrease. The Russian economy’s …

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Russia to set new inflation record

Russia’s consumer price inflation will be significantly lower than the official forecast of 3.8% in 2019, Economic Development Minister Maxim Oreshkin said. "We see that inflation will be significantly lower …

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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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Is new crisis in Russia only year and a half away?

Russia's next economic crisis may erupt in the next year and a half, according to experts of the Centre for Business Tendencies Studies at ISSEK NRU HSE. "If the trade war between the two largest economies in the …

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Are U.S. recession concerns rising with trade war?

Goldman Sachs Group Inc. is raising concerns of a U.S. recession as the trade war with China intensifies, boosting the impact on economic growth, Bloomberg reported citing a research note. The U.S. investment bank said it no longer …

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U.S. ready to impose sanctions on Russian debt?

U.S. senators Marco Rubio, a Republican from Florida, and Chris Van Hollen, a Democrat from Maryland, are asking for stronger sanctions against Russia in next year’s defense bill, pushing for the final …

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Russian Central Bank's cautious rate cuts continue

The board of directors of Russia's Central Bank has cut its key rate today by 25 bp to 7.25% per annum. "Inflation slowdown is continuing. At the same time, inflation expectations remain elevated. Russian economy’s growth …

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Russia becomes leader in dumping dollar

Russia has became one of the main drivers in the process of dedollarization last year, the European Central Bank said in its June report on the strengthening of the role of the euro in the global economy. According to the authors of the …

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Is Russia protected from trade wars?

Russia is one of the economies that is best protected from negative consequences, including a trade war between the U.S. and China, Russia's Economic Development Minister Maxim Oreshkin said. "Russia is in many …

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American business withdraws from Russia?

Morgan Stanley is planning to send a formal notice to the Russian central bank in the first quarter of 2019 that it will close down its banking operations in the country in the first quarter of 2020, its Russian unit said in its annual …

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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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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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