Russian Central Bank

Russia's central bank  raises key rate sharply to 8.5%

Russia's central bank raises key rate sharply to 8.5%

Russia's central bank raised its key interest rate sharply to 8.5% on Friday, increasing the cost of borrowing for the seventh time this year to tame stubbornly high inflation, and did not rule out further rate rises. "If the …

Russia's international reserves have broken a historic record

Russia's international reserves have broken a historic record

Russian international reserves have risen by 0.2% over the week and reached a record high of $ 621.6 billion, as it is given in the materials of the Central Bank. In total, in the period from October 15 to 22, international reserves …

Tougher monetary policy needed to slow inflation in Russia

Tougher monetary policy needed to slow inflation in Russia

Russia needs to toughen monetary policy to slow inflation and lower inflation expectations, Central Bank Deputy Governor Alexei Zabotkin said on Wednesday, days after the bank sharply raised the key rate to curb growing prices. …

Russia raises key rate to 7.5%

Russia raises key rate to 7.5%

Russia’s central bank increased its key interest rate sharply to 7.5% on Friday, delivering its sixth hike this year in an effort to tame the highest inflation since early 2016, and indicated that more rate rises were still possible. …

Bank of Russia increases key rate to 6.75% per annum

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

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 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

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

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 chair comments on Russia's inflation expectations

Central Bank chair comments on Russia's inflation expectations

Central Bank Governor Elvira Nabiullina on Thursday said inflation expectations were at a four-year high and had been elevated for several months already, saying that supply shortages and people changing their purchasing behaviour over fears of …

Central Bank: SWIFT to continue working in Russia as usual

Central Bank: SWIFT to continue working in Russia as usual

The SWIFT international payment system has confirmed to the Central Bank that it will work in Russia as usual and there is no risk that the country will be disconnected from the system, First Deputy Chairman of the Central Bank Olga …

Russia's Central Bank increases key rate to 5% per annum

Russia's Central Bank increases key rate to 5% per annum

Russia’s Central Bank has increased its key rate for the second time this year - to 5% from 4.5% per annum, according to a statement released following the meeting of its board of directors on Friday. "On April 23, 2021, the …