Konstantin Korishchenko describes futuristic Russia economic outlook
What should the Russian economy be worry about after the decline in oil prices
Konstantin Korischenko
Russia's investment in U.S .Treasuries slip below $10 bln
In December 2019, Russia cut the volume of investments in U.S. government securities by $1.5 mln to $9.974 bln compared to November, the U.S. Treasury said on Wednesday. Long-term bonds accounted for $4.27 bln, short-term - $5.7 …
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 …
Russia’s central bank cuts key rate by 1.5% this year
The board of directors of Russia's Central Bank cut the key rate by 0.25 percentage points to 6.25% annually as inflation has slowed down faster than expected, the regulator said in a statement. "Annual dynamics of the consumer …
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 …
U.S. prohibited from providing any credit to Russia
The second round of U.S. sanctions against Russia related to the Skripal case took effect today. According to a notice by the State Department, the latest round of sanctions prohibits U.S. banks from making any loan or providing …
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 …
Peak of inflation over in Russia
Russia's annual inflation was 5.3% in March, but it has started to decline in April due to a number of temporary factors restraining price hikes, the Russian Central Bank said in a report today. “Annual inflation has …
New bank established in Russia for first time in four years
Russian Central Bank will register and grant a basic license to Bank 131 (Kazan), according to the central bank's statement posted on the website. According to the statement, the bank was granted a license to conduct all banking …
Why is ruble going strong?
The dollar exchange rate declined below 65 rubles during trading on the Moscow stock exchange last week, while the euro exchange rate dropped below 74 rubles. This week the dollar fluctuated near 64.5 rubles on Monday-Wednesday, …
Washington proposes new financial sanctions against Russia
A new bill intended to impose additional sanctions with respect to Russia was published on the U.S. Congress website. The Defending American Security from Kremlin Aggression Act (DASKAA) of 2019 was introduced by Senators Lindsey …
Russia launches its own SEPA
Instant Payment System (IPS) is to be launched in Russia on January 28, 2019, Director of the National Payment System Department of the Bank of Russia Alla Bakina said at the system's presentation. Bakina noted …
Russian Central Bank: Russia should be prepared for the worst
Russia's economy should be ready for any scenarios, Russian Central bank's first deputy chairperson Ksenia Yudayeva said at the Gaidar Forum in Moscow. "We believe that we should be ready for any scenarios, …
Russia's Central Bank revokes licences of largest forex companies
The Russian central bank said it had revoked the licences of the country’s largest companies that provide clients with access to the forex market: Forex-club, Fix Trade, TrustForex, Alpari and Teletrade. These companies had …
Russia's economy minister announces New Year microcrisis
The beginning of 2019 will be a challenging period for Russia's economy because of external and internal factors, Russian Minister of Economic Development Maxim Oreshkin said. "We have the whole range of …
Bank of Russia raises key rate to last year level
The Bank of Russia Board of Directors decided to raise the key rate by 0.25 pp to 7.75% per annum today. The regulator said in a press release that the decision taken is proactive in nature and is aimed at limiting inflation risks that …
Russia takes part in creating euro-SWIFT
Russia is taking part in developing a European counterpart of the Society for Worldwide Interbank Financial Telecommunications (SWIFT), the European Commission’s press service said. According to the EC's spokesperson, the …
Russian State Duma promises not to take away overdue deposits
Russia's State Duma are studying a proposal to nationalize the deposits unrequested in due time, head of the financial market committee Anatoly Aksakov said, adding that this proposal is likely to be declined. …
Does trade need government regulation
The development of competition and the role of retail chains in the regional economy
Will Crimea become offshore zone?
Head of the State Duma’s Committee for Financial Markets Anatoly Aksakov proposed to set up an offshore zone on the Crimean peninsula. At the same time, he noted that it will not happen in the near future. Aksakov …
