MOSCOW, Sept 6 (Reuters) – Russia is considering whether to
forgo annual increases in prices for state-regulated utilities
such as gas, electricity and railways in 2014, according to a
directive issued by Prime Minister Dmitry Medvedev on Friday.
The directive, published on the government’s website on
Friday, instructed the Ministries of Economic Development,
Finance, Transport and Energy, and also the Federal Tarriff
Service, to evaluate the impact of the proposal on the economy
MOSCOW (Reuters) – Russia’s central bank warned of risks to growth on Friday and said output was below potential but, with inflation above target and the rouble weak, it resisted political pressure to cut interest rates.
Data this month showing that manufacturing and services sector activity shrank in July added to signs that Russia’s economy is losing steam.
MOSCOW, July 12 (Reuters) – Russia’s central bank signalled
policy easing ahead on Friday and introduced a new mechanism for
long-term bank funding to try and boost lending, while keeping
interest rates on hold for now.
Despite pressure from the Kremlin to cut rates to boost
Russia’s economy, which is growing at its slowest pace in four
years, the bank left its main policy rate, the one-day minimum
auction repo rate, at 5.5 percent for the 10th month in a row.
MOSCOW (Reuters) – Russian police detained around 30 pro- and anti-gay activists in central Moscow on Saturday, imposing the city’s ban on gay rights demonstrations.
The arrests, underlining Russia’s tough response to public demonstrations by gay groups, coincided with the first ever gay rally in neighboring Ukraine, which was allowed by the authorities and protected by the police.
MOSCOW, May 14 (Reuters) – Russia’s central bank is likely
to keep interest rates on hold on Wednesday, before its new head
takes office, caught between stubbornly high inflation and a
The Bank of Russia has come under political pressure to cut
lending rates to boost economic growth, which has slowed sharply
in recent months and came to just 1.1 percent in the first
MOSCOW (Reuters) – He is one of a few people who can stand up to Vladimir Putin, but even Russia’s former finance minister failed to persuade the president his economy’s problems lie at home not abroad.
When Alexei Kudrin took Putin to task live on television during the president’s annual question-and-answer session and said the economy was tanking because of a poor business climate in Russia, Putin brushed off the criticism – jokingly calling Kudrin a “slacker” for declining a new government job.
MOSCOW, May 8 (Reuters) – He is one of a few people who can
stand up to Vladimir Putin, but even Russia’s former finance
minister failed to persuade the president his economy’s problems
lie at home not abroad.
When Alexei Kudrin took Putin to task live on television
during the president’s annual question-and-answer session and
said the economy was tanking because of a poor business climate
in Russia, Putin brushed off the criticism – jokingly calling
Kudrin a “slacker” for declining a new government job.
MOSCOW, April 2 (Reuters) – Russia’s central bank lowered
its interest rates on long-term operations on Tuesday and warned
of “increased risks” to economic growth, making cuts in its key
policy rates more likely in the near future.
The bank’s moves suggest it is softening its previously
hawkish position. But they also underscore the dilemma the
central bank faces, when Russia is caught between the twin evils
of excessive inflation and a sharp slowdown in economic growth.
MOSCOW, March 13 (Reuters) – Elvira Nabiullina has the
confidence and credentials as an economist to resist Kremlin
appeals for looser monetary policy once she moves from Vladimir
Putin’s office to head the Russian central bank.
But for some, the president’s choice – announced on Tuesday
at the expense of frontrunners within the bank’s existing
management – signals the decline of a liberal economic policy
elite that has dominated strategy since Putin rose to power 13
years ago and shows central bank independence only goes so far.
MOSCOW, Feb 26 (Reuters) – Russia should undertake
structural reforms and not cut interest rates or boost spending
to revive flagging economic growth, the World Bank said on
Tuesday in its annual country report.
“Stimulating the economy in the short term would just spill
over into more persistent and higher inflation and would
ultimately derail growth in the longer term,” said Kaspar
Richter, World Bank lead economist for Russia, presenting the
report in Moscow.