Jason's Feed
Jan 30, 2013

Analysis: Putin’s central bank choice – Sound money or boom-bust?

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.

Jan 30, 2013

Putin’s central bank choice: Sound money or boom-bust?

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.

Jan 15, 2013

Russia c.bank holds rates, sounds hawkish on inflation

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.

Jan 14, 2013

Euroclear says poised to settle Russian treasury bonds

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.

Jan 9, 2013

Russian inflation edges up in December

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
economic growth.

Dec 13, 2012

Russia’s diversification drive falls flat: EBRD

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.

Dec 10, 2012

Russia tweaks some rates, signals main ones on hold

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.

Nov 23, 2012

Russian parliament backs cut in pension savings

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.

Nov 22, 2012

Analysis: Russian-style quantitative easing may sow trouble

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.

Nov 22, 2012

Russian-style quantitative easing may sow trouble

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.