Russian central bank lowers key interest rate
Russian central bank lowers key interest rate At its monthly meeting last Friday (June 10), the Central Bank of Russia’s board of directors voted to lower the key rate by 50 basis points to 10.5 %. T...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Declining ruble exchange rate has sharply lowered external value of wages in all branches
Declining ruble exchange rate has sharply lowered external value of wages in all branches The average monthly Russian wage between April 2015 and March 2016 was €500. In manufacturing, it was about €...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russian export earnings and import spending continue to fall
Russian export earnings and import spending continue to fall Preliminary balance-of-payments figures from the Central Bank of Russia show export earnings from goods and services fell by a third in th...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Higher oil prices lift ruble’s exchange rate
Higher oil prices lift ruble’s exchange rate The rising price of Urals-grade crude oil since January has also boosted the ruble’s exchange rate. On Thursday (Apr. 7) the price of Urals crude was $36....
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Recovery of Russian economy moderated in August
Russia Recovery of Russian economy moderated in August The recovery in consumption-driven branches began to fade slightly in August, while primary production supported the overall economy. Although ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Lower oil prices hurting values of ruble and other CIS currencies
Lower oil prices hurting values of ruble and other CIS currencies At end-December, ruble hit new lows for the year pulled by declining oil prices. The ruble has renewed its slide in recent days as oi...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Forecasters see the Russian economy contracting slightly in 2016
Forecasters see the Russian economy contracting slightly in 2016 Recent economic forecasts, with the exception of the brighter projection of Russia’s economy ministry, see GDP contracting about a hal...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Cheap oil hurts ruble
Cheap oil hurts ruble The recent slide in crude oil prices has again affected the Russian ruble’s external value. The price of Urals-grade crude oil has fallen by nearly 25 % since mid-October. Today...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian central bank keeps rates unchanged
Russian central bank keeps rates unchanged The Central Bank of Russia last week decided to keep its key rate at 11 %, a level held since the start of August. The CBR noted that, while inflation risks...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian inflation remained moderate
Russia Russian inflation remained moderate February consumer prices were up by 2.3 % y-o-y. Inflation slowed slightly from the January pace of 2.4 %. Much of the drop can be attributed to ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Loan stock growth stalls for Russian banking sector
Loan stock growth stalls for Russian banking sector The stocks of both corporate loans and loans granted to households contracted in the first four months of this year. SMEs, in particular, found it...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian government supports investment in production focused on import substitution
Russian government supports investment in production focused on import substitution The state Industry Development Fund has selected its first candidates for financing support. The projects to be fin...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
CBR lowers key rate
CBR lowers key rate Effective Tuesday (May 5), the Central Bank of Russia lowered its key interest rate by 1.5 percentage points to 12.5 %. It was the third rate cut this year. The central bank said ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Statistical reforms provide improved picture of Russian household spending
Russia Statistical reforms provide improved picture of Russian household spending New figures show that the large contraction in real household incomes of recent years was a little milder than ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian government releases new guidelines for national projects
Russia Russian government releases new guidelines for national projects As part of his inaugural decrees in May 2018, president Putin set forth twelve national priority areas and a handful of infras...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian retail sales up overall, but growth has slowed in recent months
Russia Russian retail sales up overall, but growth has slowed in recent months The volume of retail sales last year grew by 2.6 % y-o-y. The pace of growth varied during the year, however, slowing t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Only minor changes in value of China’s currency reserves since 2016
China Only minor changes in value of China’s currency reserves since 2016 At the end of January, the value of the People’s Band of China’s total official foreign reserve assets was 3.186 trillion do...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Russian economy’s growth rate accelerated in 2018
Russia Russian economy’s growth rate accelerated in 2018 Rosstat’s first GDP growth estimate for all of 2018, released on Monday (Feb. 4), surprised both Russian and foreign analysts. Rosstat estima...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Rosstat released revised figures for GDP and domestic demand in 2016 and 2017
Russia Rosstat released revised figures for GDP and domestic demand in 2016 and 2017 Rosstat’s revised figures for 2017 GDP released in December slightly increase reported growth from 1.5 % to ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019
Continued low growth forecast for Russian economy this year
Russia Continued low growth forecast for Russian economy this year Major forecasts for Russian GDP growth this year run around 1.5 % p.a. The low pace of growth roughly matches that of realised...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019