Central Bank of Russia

Central Bank of Russia Cuts Interest Rate Again

September 16, 2022

the Central Bank of Russia’s policy interest rate was sliced by 50 basis points to 7.5%, which is only about half as much as August’s 14.3% year-on-year rate of Russian CPI inflation. According to a released statement, Russian GDP is liable to contract 4% or slightly more this year, and subdued consumption should promote a […] More

Russian Central Bank Rate Cut Three Times Larger than Expected

July 22, 2022

Although economic sanctions had been unsuccessful in many earlier instances, that was the initial NATO response to Russian President Putin’s blatant aggression against Ukraine. The pressure initially seemed to impose great pain on the Russian economy and financial markets. The Central Bank of Russia had previously doubled its key interest rate in 2021 from a […] More

Russia Getting Its Way in Ukraine… Western European Slowdown Intensifying

July 22, 2022

Although economic sanctions had been unsuccessful in many earlier instances, that was the initial NATO response to Russian President Putin’s blatant aggression against Ukraine. The pressure initially seemed to impose great pain on the Russian economy and financial markets. The Central Bank of Russia had previously doubled its key interest rate in 2021 from a […] More

Central Bank of Russia

June 10, 2022

The Central Bank of Russia, unlike most other monetary authorities around the world, is marching to a different drum, and the irony is that Russia’s ruthless destruction of Ukraine — a major producer of both energy and food — is a major reason for the rise of world inflation. Two rate hikes by Russian officials […] More

Inflation Rising, Central Bankers Reacting, Dollar Firmer, and Equities Troubled

June 10, 2022

The dollar rose overnight by 0.4% against sterling and 0.2% relative to the euro, Swiss franc, and in weighted terms. The dollar alternatively dropped against the ruble, Australian and New Zealand dollars and Japanese yen. Following yesterday’s sharp drop in U.S. share prices, equities fell 1.5% in Japan, 1.3% in Indonesia and Australia, 1.6% in […] More

Unscheduled Policy Review in Russia Leads to Another Three Percentage Point Interest Rate Cut

May 26, 2022

In an unscheduled policy meeting at the Central Bank of Russia, officials implemented their third 300-basis point interest rate cut since April 8 and “holds open the prospect of key rate reduction at its upcoming meetings.” Economic growth in Russia appears to have slumped very sharply this quarter. The ruble plunged very sharply when Russia’s […] More

Thursday’s Focus Turns to Central Banks

May 26, 2022

The dollar slid overnight by 0.2% against the euro, yen, sterling, and Mexican peso and by 0.1% versus the Swiss franc and on a weighted basis. Alternatively the U.S. currency advanced 0.6% relative to the Chinese yuan, 0.3% relative to the Russian ruble, and 0.2% vis-a-vis the Turkish lira. The kiwi, Aussie dollar and Canadian […] More

Central Bank of Russia Cuts Interest Rate Sharply Further

April 29, 2022

The Central Bank of Russia felt sufficient room to implement its second 300-basis point cut this month in its policy interest rate, which now becomes 14.0%.  Officials had been expected to reduce interest rates by just 200 basis points. Its statement of explanation touted the ruble’s recovery to pre-war levels and asserted that with”price and […] More

Concerns about Corporate Earnings

April 29, 2022

Led by the tech sector especially pre-open declines of nearly 10% in Amazon and 2.5% in Apple, U.S. stock futures are lower on this final trading session of the difficult month of April. Amazon reported a quarterly drop in earnings, and Apple warned of persistent supply delays. Having touched a 19-year weighted high on Thursday, […] More

Pakistani and Russian Central Bank Interest Rates Undergo Big Changes in Opposite Directions

April 8, 2022

The latest batch of central bank interest rate decisions includes a 250 basis point hike in the State Bank of Pakistan’s policy rate to 12.25%. The decision was made at an emergency unscheduled meeting, accompanied by an upwardly revised 11% projected rate of inflation this year, and explicitly intended to restore a premium between the […] More

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