finances

page 5

Russia’s central bank cuts key rate by 1.5% this year

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 …

Russia’s minimal wage increased

Russia’s minimal wage increased

Russia's State Duma has passed a bill to increase minimal monthly wage by 7.5%, up to 12,130 rubles (over $190), starting January 1, 2020. Current minimal monthly wage is estimated at 11,280 rubles. Changes are …

UN reveals U.S. debt load

UN reveals U.S. debt load

Spokesperson for the UN Secretary Stephane Dujarric said that the United States still has to pay $491 million of its assessment. "The U.S. has about $491 million left to pay," he said. In …

Russia's Central Bank to cut key rate to 5%?

Russia's Central Bank to cut key rate to 5%?

Assistant to the Russian president Andrei Belousov believes that potential for further easing of the Russian Central Bank's monetary policy after several consecutive cuts in the key rate remains quite high. According to him, …

Russia’s budget surplus reaches 3.071 tln rubles

Russia’s budget surplus reaches 3.071 tln rubles

Russia’s budget surplus increased to 3.071 trillion rubles in January–October, as compared with 2.987 trillion rubles in January–September,according to the Russian Finance Ministry materials. Budget revenue amounted to …

Non-performing loans of Russians reach 811.8 billion rubles

Non-performing loans of Russians reach 811.8 billion rubles

The share of retail consumer non-performing loans in Russia declined 0.6% to 4.8% as of October 1, according to Russia's central bank data. Outstanding loans were 16.9 trillion rubles, up from 10.6 trillion five years ago, RBC …

Why does ruble become one of strongest currencies in 2019?

Why does ruble become one of strongest currencies in 2019?

Russia's financial environment is improving, and the ruble remains stable regardless of political news, becoming one of the strongest currencies in 2019, according to the article entitled 'After the sanctions and oil shocks: that's …

Nabiullina: inflation expectations still not anchored

Nabiullina: inflation expectations still not anchored

Russia’s central bank has still not anchored the country’s inflationary expectations despite inflation targets having been reached, Governor Elvira Nabiullina said. "The central bank reserves the right …

Sberbank announces losses from sale of Denizbank

Sberbank announces losses from sale of Denizbank

Russia’s top bank Sberbank reported a 32% fall in third-quarter net profit, hurt by a foreign exchange loss due to the sale of Denizbank in Turkey. Sberbank sold Denizbank to Emirates NBD Group for 170.7 billion rubles ($2.7 …

Bank of Russia radically lowers key rate

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 …

Georgia's National Bank increases refinancing rate once again

Georgia's National Bank increases refinancing rate once again

Georgia's National Bank has increased the refinancing rate by one percentage point to 8.5% today at the meeting of the Monetary Policy Committee. In September 2019 the annual rate of inflation amounted to 6.4%, which is more …

Christine Lagarde appointed as head of ECB

Christine Lagarde appointed as head of ECB

European Union leaders confirmed the appointment of Christine Lagarde as the new chief of the European Central Bank, replacing Mario Draghi from November 1. Lagarde’s confirmation for a …

Russia raises its holdings of U.S. Treasuries

Russia raises its holdings of U.S. Treasuries

Russia raised investment in U.S. treasury bonds by $826 million to $9.327 billion in August, according to the data of the U.S. Department of the Treasury. Of the total, $6.259 billion are long-term bonds and $3.068 billion are …

New World Bank country director for Russia appointed

New World Bank country director for Russia appointed

Renaud Seligmann has been appointed World Bank Country Director for Russia, effective October 15, 2019.  In this position, "Seligmann will lead the dialogue with the government, development partners and other …