Central Bank of Russia

Bank of Russia Interest Rate Reduced Full Percentage Point

June 19, 2020

The Central Bank of Russia lowered its one-week repo rate by a full percentage point to a record low of 4.5%, bringing the net drop this year to 175 basis points. The rate earlier was cut 25 bps in February and by 50 bps in April. More monetary relief is moreover still in play according […] More

Dollar Extending Gains Against Commodity-Sensitive Currencies

February 7, 2020

The dollar rose overnight by a further 0.7% against the kiwi, peso, Russian ruble, and Aussie dollar and by 0.5% relative to the Chinese yuan. The dollar dropped 0.3% versus the yen and 0.1% vis-a-vis sterling but is unchanged against the euro. Intensifying concern about the spreading coronavirus epidemic provided an excuse for profit-taking in […] More

Several Japanese Data Reported but Investors Marking Time Ahead of U.S. Figures

April 26, 2019

Shortly before the first release of U.S. first-quarter GDP, the dollar showed no net overnight change against the euro, loonie or sterling. There were 0.1% upticks relative to the yen, Swiss franc and peso, a 0.1% downtick vis-a-vis the yuan and drops of 0.5% against the kiwi and 0.3% versus the Australian dollar. European share […] More

Global Stocks Down after Trump/Xi Meeting Scrapped

February 8, 2019

The revelation that President Trump will not be meeting with Chinese President Xi before March 1 dampened hopes for a trade deal, weighed on general concerns regarding global growth, and sent share prices down 2.0% in Japan, 1.2% in South Korea and India, 1.0% in Spain, and 0.9% in Germany. The Dow and S&P fell […] More

Weak Data Intensify Investor Flight from Risky Assets

December 14, 2018

Equities fell 2.0% in Japan, 1.9% in Hong Kong, 1.5% in China, 1.3% in New Zealand and South Korea, 1.1% in Australia and Singapore, and 0.9% in Taiwan. Share prices are also down 1.0% in the U.S. and Switzerland, 0.8% in France, 0.7% in Italy, and 0.6% in Canada and Germany. The flight to safety […] More

Central Bank of Russia

March 23, 2018

The Board of Directors of the Russia’s central bank lowered the one-week repo rate another notch to 7.25% from 7.5% and served further notice in a released statement that they intend to “continue to reduce the key rate and will complete the transition to neutral monetary policy in 2018.” Officials noted that “annual inflation remains sustainably low” and predicted […] More

Share Prices Down in Europe as Week Draws to a Close

September 16, 2016

Equities have fallen 1.6% in Italy, 0.6% in Spain, 0.5% in Germany, 0.4% in France, 0.3% in Switzerland, and 0.2% in Greece.  The British Ftse is flat, and stocks earlier rose 1.1% in Australia, 0.9% in New Zealand, 0.8% in Singapore, and 0.7% in Japan and India. Many Asian markets — for instance, China, Taiwan, […] More

Key Russian Central Bank Rate Kept at 11.0%

April 29, 2016

The Central Bank of Russia’s Board of Directors projects a drop of CPI inflation from 7.3% currently to 5% a year from now and the 4.0% target by end-2017.  But officials want to be more confident of this path before resuming last year’s easing that saw a series of cuts over the first seven months […] More

Central Bank of Russia

January 29, 2016

Russia’s key interest rate was left at 11.0%, its level since a 50-basis point reduction last July.  At the end of 2014, the rate stood at 17% in an effort to contain inflation and ruble depreciation.  In 2015, the rate was cut 200 basis points in January, 100 bps in March 150 bps in April, […] More

Central Bank of Russia Cuts Key Interest Rate for Fourth Time in 2015

June 15, 2015

Following reductions of 200 basis points (bps) in January, 100 bps in March and 150 bis at the end of April, Russia’s main central bank rate was reduced today by 100 bps to 11.5%.  This cumulative 550-bp decline reverses by more than half a combined 900-bp rate hike last November-December, and more monetary relief is […] More

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