CBR keeps key rate unchanged at 11 %
CBR keeps key rate unchanged at 11 % The Central Bank of Russia stated that inflation has slowed down in recent months, but inflation risks remain elevated. Hence, the CBR board of directors decided ...
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Even with stabilisation of oil prices, the ruble has lost value in recent months
Russia Even with stabilisation of oil prices, the ruble has lost value in recent months The external value of the ruble has traditionally tracked – almost slavishly – changes in world crude oil pric...
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Putin visits Uzbekistan
Putin visits Uzbekistan President Vladimir Putin visited Uzbekistan this week to extend his condolences for the death of the country’s long-time president Islam Karimov and to meet with Uzbekistan’s ...
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Contraction of the Russian economy slowed this year
Contraction of the Russian economy slowed this year Rosstat reports that GDP fell 1.2 % y-o-y in the first quarter. Russia’s economy ministry noted that the impact of leap year blunted the drop. The ...
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Russian agriculture enjoys another year of growth
Russia Russian agriculture enjoys another year of growth While agricultural output grew almost every year over the past decade, 2020 was no exception even if growth slowed down to about 1.5 %. ...
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Recession hits Russian regions
Recession hits Russian regions Private consumption has fallen considerably. The volume of retail sales in the first half was down 6–12 % y-o-y in most of the eight Federal Districts. The decline in t...
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President Putin speaks to foreign investors at St. Petersburg international economic forum
President Putin speaks to foreign investors at St. Petersburg international economic forum Putin thanked investors who have continued to operate in Russia despite the political situation. He noted t...
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Ruble appreciation enters third month
Ruble appreciation enters third month The ruble’s recent recovery reflects stabilisation of global oil prices and reduced foreign currency demand in Russia. Demand for foreign currency is no longer a...
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Strong growth in Russian bank lending continued last year
Russia,economy,BOFIT Weekly Review Strong growth in Russian bank lending continued last year Corporate borrowing driven by reduced access to international financing and generous interest-subsidy pro...
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Rapid expansion of Russian consumer borrowing raises concerns
Russia Rapid expansion of Russian consumer borrowing raises concerns Preliminary data released by the CBR show that on-year growth in the stock of credit granted to households accelerated in the fir...
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Russian government sector finances improved further last year
Russia Russian government sector finances improved further last year Revenues to the consolidated budget (federal, regional and municipal budgets plus state social funds) increased by about 20 % in ...
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Call for Papers: Workshop on Banking in Emerging Markets: Challenges and Opportunities
BOFIT conference Call for Papers: Workshop on Banking in Emerging Markets: Challenges and Opportunities Call for Papers 10th CInSt Annual Banking Workshop on Banking in Emerging Markets: Challenges ...
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Recovery in Russian fixed investment remains slow
Russia Recovery in Russian fixed investment remains slow The real volume of fixed investment in the third quarter of this year was up only 0.8 % y-o-y. Growth in the first half was even a littl...
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Ruble rate holds steady despite falling oil prices and Kerch Strait skirmish
Russia Ruble rate holds steady despite falling oil prices and Kerch Strait skirmish The price of Urals-grade crude oil declined by 30 % in October and November, from above 85 dollars a barrel to und...
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Russian industrial output and retail sales continue relatively strong growth in August
Russia Russian industrial output and retail sales continue relatively strong growth in August Industrial output in August rose by 2.7 % from a year earlier, whereas in July it grew by 3.9 %. The lev...
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Government support keeps banking sector stable in first year of war
#Russia Government support keeps banking sector stable in first year of war In Russia’s bank centric financial markets, bank lending pays a significant role in corporate finance. Given that the sta...
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Russian defence spending declines, but remains substantial
Russia Russian defence spending declines, but remains substantial Russia's finance ministry reports that government defence spending fell by 25 % in nominal ruble terms last year. The defence sp...
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CBR considers ways to support fixed investment and reduce forex dependency
Russia CBR considers ways to support fixed investment and reduce forex dependency According to the Central Bank of Russia’s recent draft documents on 2023–2025 monetary policy and financial market d...
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Russian banking sector enjoyed brisk growth last year
Russia Russian banking sector enjoyed brisk growth last year Measured by the final balance sheet total, Russia’s banking sector grew by 12.5 % last year, clearly higher growth than in 2019. Gro...
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Russian economy continues to recover
Russia Russian economy continues to recover Preliminary figures show Russian GDP contracted by about 1 % in the first quarter of this year. In the fourth quarter of 2020, GDP was still shrinkin...
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