MOSCOW, Jan 15 (Reuters) – Russia’s central bank left
monetary policy unchanged on Tuesday and sounded a relatively
hawkish note on inflation again, muddying the waters over the
direction of its next interest rate move.
In a notable contrast with last month, the bank made no
mention of whether it sees money market rates as “acceptable for
the near future” – a formulation that had been seen as meaning
rates would stay on hold for a while.
MOSCOW, Jan 14 (Reuters) – Euroclear is ready to begin
settling Russian treasury bond trades once it receives clearance
from the market regulator, a change that is set to open up the
market to international investors.
Head of product management Stephan Pouyat said outstanding
legal concerns had been resolved but that Euroclear was still
awaiting formal confirmation from Russia’s financial market
regulator over the correct interpretation of relevant laws.
MOSCOW, Jan 9 (Reuters) – Russia saw a slight pick-up in
headline consumer price inflation in December, although a
moderation in underlying price pressures suggests the central
bank may keep interest rates on hold for now.
The data, which was in line with forecasts, suggests that
after recently hiking rates to clamp down on price rises, the
central bank is likely to shift its focus towards boosting
MOSCOW (Reuters) – Russia’s attempts to wean itself off its chronic dependence on natural resources have failed to deliver tangible results, a study by the European Bank for Reconstruction and Development (EBRD) showed on Friday.
The 96-page “Diversifying Russia” report makes sober reading for the government of President Vladimir Putin. Russia, the world’s largest oil and gas producer, has in recent years launched one initiative after another aimed at reducing its over-reliance on commodities by promoting alternative sectors.
MOSCOW, Dec 10 (Reuters) – Russia’s central bank tweaked its
policy rates on Monday, in a move designed to reduce market
volatility, and signalled that it intends to keep rates on hold
in the near future.
It raised its fixed deposit rate by 25 basis points to 4.5
percent, while cutting its foreign exchange swap rate for
roubles by 25 basis points to 6.5 percent.
MOSCOW (Reuters) – Russia’s lower house of parliament, the Duma, has approved a pension reform law that will cut savings without raising retirement ages, ducking a tough decision on how to finance the budget burden of an ageing population.
The parliament made one concession to Russia’s nascent asset management industry, retaining a higher levy for workers who opt to keep their retirement account with a private asset manager.
MOSCOW (Reuters) – It has been dubbed quantitative easing, Russian-style. A surge in central bank lending to Russian banks is sustaining rapid loan growth, but also risks fueling inflation and a potential credit bubble.
On the face of it, Russia’s central bank has been acting tough. To clamp down on inflation it has recently hiked interest rates – in stark contrast with the ultra-loose monetary policies seen in western economies.
MOSCOW, Nov 22 (Reuters) – It has been dubbed quantitative
easing, Russian-style. A surge in central bank lending to
Russian banks is sustaining rapid loan growth, but also risks
fueling inflation and a potential credit bubble.
On the face of it, Russia’s central bank has been acting
tough. To clamp down on inflation it has recently hiked interest
rates – in stark contrast with the ultra-loose monetary policies
seen in western economies.
MOSCOW, Nov 20 (Reuters) – Slower retail sales growth in
Russia in October has added to concerns the economy is feeling
the global economic chill, as previously free-spending domestic
consumers grow more cautious.
Federal Statistics Service data on Tuesday showed
year-on-year growth in retail sales fell last month to 3.8
percent from 4.4 percent in September, significantly below the
4.3 percent forecast in a Reuters poll last month.
MOSCOW, Nov 9 (Reuters) – Russia’s central bank left all its
policy rates on hold as expected on Friday, for the second month
in a row, and adopted a less hawkish tone on inflation that
suggests it may stay its hand in subsequent months.
In a statement accompanying its rate decision, the Bank of
Russia was more optimistic about inflation trends than in
previous months – interpreted by analysts as making future hikes
in rates less likely.