MOSCOW, Nov 8 (Reuters) – Russia’s central bank left its key
policy rate unchanged for the 14th month in a row on Friday,
underscoring the painful dilemma faced by policymakers grappling
with slowing growth and rising inflation.
The bank held its benchmark one-week minimum auction repo
rate at 5.5 percent, reflecting concerns about above-target
NOVO-OGARYOVO, Russia, Nov 6 (Reuters) – President Vladimir
Putin said on Thursday that Russia should not spend all of its
fiscal reserves, lending support to fiscal conservatives who
favour keeping most rainy-day funds invested in low-risk foreign
Putin was addressing a meeting to discuss the use of the
National Welfare Fund, an $89 billion stash of energy revenues
that has been saved to cover the rising long-term cost of state
MOSCOW (Reuters) – Thousands of Russian nationalists rallied across the country on National Unity Day on Monday, in a sign of the growing strength of far-right political forces galvanized by an anti-immigrant agenda.
Hard-line nationalists have adopted the holiday, which commemorates the liberation of Moscow from Polish invaders in 1612, as an occasion to hold annual “Russian Marches”.
MOSCOW, Oct 17 (Reuters) – More than three quarters of
Russians assume inflation will outpace wage growth over the next
year, a central bank survey shows, underlining the bank’s
reluctance to cut interest rates.
Chronically high inflation expectations have deterred the
central bank’s new policymaking team under governor Elvira
Nabiullina from loosening monetary policy over recent months
even as economic growth has ground to a halt.
MOSCOW (Reuters) – Russia’s central bank kept its main policy rate on hold as expected on Monday, stating concerns over stubborn inflation expectations even as retail price growth fell to the top of its target range.
The bank left its key one-week minimum auction repo rate at 5.5 percent, leaving policy rates unchanged for the 13th month in a row.
MOSCOW (Reuters) – Russia’s central bank has limited scope to reverse an economic slowdown that reflects underlying structural problems rather than tight credit, the bank’s new head of monetary policy said.
Ksenia Yudayeva, appointed to head monetary policy under new Chairwoman Elvira Nabiullina, defended the bank against political pressure to cut interest rates to boost growth.
MOSCOW (Reuters) – Russia is committed to improving education, health and social welfare and will have no problem financing their long-term development, Deputy Prime Minister Olga Golodets told the Reuters Russia Investment Summit.
Concerns about Russia’s poor demographics, an eroding skills base and the high cost of social security obligations are mounting, amid signs that these chronic problems are taking a toll on overall economic performance.
MOSCOW, Sept 18 (Reuters) – The Russian budget’s dependence
on fickle oil and gas prices is set to remain high, as the
country will be forced to borrow more in response to an
unexpectedly severe economic slowdown.
Under a three-year budget plan seen by Reuters on Wednesday,
the Finance Ministry will raise borrowing to compensate for
lower-than-expected tax revenues and to fund the rising cost of
spending promises made by President Vladimir Putin.
MOSCOW, Sept 13 (Reuters) – Russia’s central bank on Friday
announced a major overhaul of its monetary policy framework to
simplify its interest-rate toolkit, while resisting pressure to
cut policy rates to boost the sluggish economy.
In a move to strengthen the influence of policy rates over
market rates, the central bank said that it was making its
one-week auction repo rate, presently 5.5 percent, its main
policy rate from Sept. 16.
MOSCOW, Sept 12 (Reuters) – A decision by Russian President
Vladimir Putin to freeze utility prices in 2014 adds to chances
that the central bank will cut key policy rates when it meets to
discuss them on Friday.
By a narrow margin, analysts polled by Reuters earlier in
the week had expected the central bank to hold rates this month,
despite pressure from the Kremlin to boost the flagging economy.