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Oct 1, 2014

Russian central bank prepares strategy for sharp oil price drop

MOSCOW, Oct 1 (Reuters) – Russia’s central bank is working
on measures to support the economy should oil prices fall by as
much as a third or more, a senior official said on Wednesday,
showing growing concern as the rouble slides and Western
sanctions take a toll.

The International Monetary Fund also gave a pessimistic
assessment of the Russian economy, halving its growth forecast
for 2015 to just 0.5 percent.

Sep 24, 2014

Russia still on track to achieve low inflation -central banker

MOSCOW, Sept 23 (Reuters) – Russia’s central bank can
achieve low inflation despite economic shocks from the Ukraine
crisis, the bank’s Deputy Governor Ksenia Yudayeva told Reuters
on Wednesday.

She was cautious about economic growth, though, arguing that
low growth was a serious structural problem facing the country
which monetary policy was largely powerless to solve. The best
the bank could do to help, she said, was to boost the confidence
of long-term savers by bringing inflation under control.

Sep 19, 2014

Russian stocks get short-lived relief from tycoon’s release

MOSCOW, Sep 19 (Reuters) – Russian shares got a short-lived
boost on Friday afternoon after a well-known tycoon was freed
from house arrest, but the market optimism faded, leaving
indexes well into the red.

Sistema, the conglomerate of telecoms and oil
tycoon Vladimir Yevtushenkov, said that the businessman had been
freed from house arrest. But he will have to stay in Russia to
face money laundering charges.

Sep 16, 2014

Rouble plumbs new depths, with dollar in short supply

MOSCOW, Sept 16 (Reuters) – The Russian rouble fell to new
lows on Tuesday as Russian companies paid foreign debts amid a
shortage of dollars, but comments that officials may make more
foreign currency available helped to check the losses.

The rouble has been dropping since the middle of last week.
Falling oil prices, punitive sanctions over Ukraine and broad
emerging-market weakness before this week’s meeting of the U.S.
Federal Reserve all contributed to the decline.

Sep 13, 2014

Gazprom says not able to meet all of Poland’s requests for gas

MOSCOW/WARSAW, Sept 13 (Reuters) – Russian gas giant Gazprom
said on Saturday it was not able to supply Poland with
the volumes of natural gas it was requesting and could only
deliver levels closer to daily minimum allowed under the

Gazprom gave no reason for its inability to deliver the gas,
but earlier this week said it was exporting gas subject to
available resources and pumping to storage facilities in Russia.

Sep 12, 2014

Russian Central Bank signals dovish shift by leaving rates on hold

MOSCOW, Sept 12 (Reuters) – The Russian central bank left
its key interest rate on hold at a regular meeting on Friday,
signalling a dovish shift in policy which may mean that a recent
cycle of rate hikes is over.

Speaking at a news conference after the rate decision,
central bank governor Elvira Nabiullina said that the bank sees
no need to raise rates at present as inflation is on track to
fall over the medium term.

Sep 12, 2014

Russian shares rebound after EU sanctions, rouble hits new low

MOSCOW, Sept 12 (Reuters) – Russian stocks rebounded on
Friday as investors concluded that the market had over-reacted
to new European Union sanctions against Moscow over the Ukraine
crisis, but the rouble hit a new record low against the dollar.

The EU’s new sanctions further restrict access to foreign
capital for Russia’s largest state-controlled companies,
including top energy firms. The United States was expected to
follow on Friday with similar measures targeting Russia’s
largest bank Sberbank.

Sep 11, 2014

Russian central bank seen keeping rates on hold to support economy

MOSCOW, Sept 11 (Reuters) – Russia’s central bank is likely
to leave its main interest rate unchanged on Friday to support
the weak economy, although there is a small chance it could opt
for a hike to clamp down on high inflation, economists say.

Of the 19 economists surveyed by Reuters this week, 15
expect the bank to keep rates at 8 percent on Friday, while four
anticipate a half percentage-point increase.

Sep 1, 2014

Rouble hits new low as Ukraine crisis deepens

MOSCOW, Sept 1 (Reuters) – Russian assets fell on Monday,
with the rouble hitting a fresh record low against the dollar
after Europe and the United States accused Russia of direct
military involvement in Ukraine.

Fears of new sanctions, which could include a ban on buying
new Russian bonds, and weak economic data from China added to

Aug 29, 2014

Russian inflation, interest rates to stay high as sanctions bite

MOSCOW (Reuters) – Russia will miss its inflation target this year as a ban on Western food imports causes prices to rise, and economic growth will be minimal as Western sanctions over Ukraine bite, a Reuters poll showed on Friday.

The poll of 15 analysts predicted that inflation would be at 7.2 percent by the end of this year – significantly above last month’s poll forecast of 6.5 percent.