Russian Central Bank

Bank of Russia increases key rate to 6.75% per annum

Russia’s Central Bank has again raised its key rate - by 0.25 percentage points to 6.75%, noting that it holds open the prospect of further key rate rises at its upcoming meetings, according to the press release following they key rate …

Nabiullina expects long-term inflation in Russia

The head of the Bank of Russia Elvira Nabiullina believes that inflation in Russia will be a long-term phenomenon. She expressed this opinion in an interview with the Financial Times. “We had a very long period of high inflation …

Three-quarters of Russians use online money transfers

Three-quarters of the Russian adult population (over 75% of those polled) use online money transfers. This figure rose 20% in May 2021, according to a poll conducted by the Bank of Russia. "More than 75% of the Russian adult …

Russian central bank could raise rates in July

Russia’s central bank will consider raising its benchmark interest rate by between 25 and 100 basis points from the current 5.5% at its next rate-setting meeting on July 23 to rein in inflation, Governor Elvira Nabiullina said on …

Bank of Russia raises key rate to 5.5% per annum

For the second time in a row, the Bank of Russia raised the key rate by 0.5 percentage points to 5.5% per annum, according to the regulator's statement. "On 11 June 2021, the Bank of Russia Board of Directors decided to …

Central Bank assesses oil prices

The Bank of Russia considers the current level of oil prices to be fair, the First Deputy Chairman of the Central Bank of the Russian Federation, Sergei Shvetsov, said addressing the audience at the All-Russian Week of Financial Literacy. …