MOSCOW (Reuters) – Russia needs to create a specialized financial police force to combat illegal capital flight and monitor state spending, Alexander Bastrykin, the country’s top investigator, said on Thursday.
Bastrykin, the head of Russia’s Investigative Committee, appeared to be responding to concerns raised by the central bank over illegal schemes to siphon tens of billions of dollars out of the country each year.
MOSCOW, Feb 20 (Reuters) – Russia’s central bank can only
consider cutting interest rates when inflation falls, its
chairman said on Wednesday, resisting pressure for quick
reductions to boost a flagging economy.
The central bank has faced criticism from business and
politicians for refusing to loosen monetary policy, including
from the country’s president Vladimir Putin.
MOSCOW, Feb 12 (Reuters) – Russia’s central bank left all
its policy rates on hold at its monthly meeting on Tuesday,
resisting political pressure to ease policy and warning that
inflation would stay above target for an extended period.
Analysts had expected the central bank to hold rates after
inflation rose above 7 percent in January, feeding doubts about
its chances of achieving its 5-6 percent target range for 2013,
and the rouble continued to strengthen slightly to 34.74 against
a euro-dollar basket after the announcement.
MOSCOW, Feb 6 (Reuters) – Russia’s central bank stepped up
its defence of its reluctance to ease policy, offering more
insight on Wednesday into the methods it uses to set interest
rates and describing its current stance as neutral.
Under political pressure to cut rates in response to slowing
growth and tightening credit, the central bank said financial
conditions are “neutral” and Russia’s growth rate is in line
MOSCOW, Feb 5 (Reuters) – Russia’s consumer market will be
the largest in Europe by 2020 and the fourth largest in the
world, offering rich pickings for investors, according to a
report on Tuesday by Sberbank CIB, the investment banking arm of
Russia’s top bank Sberbank.
The report sought to counter popular stereotypes that
Russia’s economy is largely based on oil and other natural
resources and highlight the growth potential of
consumer-oriented sectors that cater to a large and growing
MOSCOW (Reuters) – An impending change in the leadership of Russia’s central bank will test President Vladimir Putin’s commitment to sound money.
Chairman Sergei Ignatyev will retire in June after 11 years at the helm, with a replacement to be named in March.
MOSCOW, Jan 30 (Reuters) – An impending change in the
leadership of Russia’s central bank will test President Vladimir
Putin’s commitment to sound money.
Chairman Sergei Ignatyev will retire in June after 11 years
at the helm, with a replacement to be named in March.
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