Central Bank of the Russian Federation
Central Bank of the Russian Federation
February 7, 2020
The Central Bank of Russia’s one-week repo rate was reduced further today. The cut was 25 basis points to 6.0%, matching similar moves in December, September, July, and June. Last October, such was cut by 50 basis points. A released statement flags the possibility of more easing ahead insofar as inflation has dropped more sharply […] More
Bank of Russia Eases Again
December 13, 2019
The Central Bank of the Russian Federation reduced its key interest rate by a further 25 basis points to 6.25%, bringing the accrued decline since July to 150 basis points. Moreover, a released statement provides forward guidance that officials during the first half of 2020 will ease further if conditions continue to warrant such. Inflation […] More
A Third Russian Central Bank Rate Cut
September 6, 2019
The Central Bank of the Russian Federation, as it had done in June and July, cut its policy interest rate by 25 basis points at today’s meeting, citing in a released statement the continuing downtrend of inflation, lower-than-expected economic growth and elevated global risks. Officials lowered their projections for both growth and inflation slightly, and […] More
Russian Monetary Stance Eased as Expected
June 14, 2019
The Central Bank of Russia today cut its benchmark interest rate for the first time since March 2018. The 25-basis point rate reduction to 7.5% had been foreshadowed in comments made after the previous monetary policy review, and today’s released statement points to more rate relief in coming months if inflation continues to settle back […] More
Most Stock Markets Slide Amid Continuing Geopolitical Tensions
June 14, 2019
Equities overnight by 1.0% in China, 0.7% in India, and 0.6% in Hong Kong. European losses so far amount to 0.8%, 0.7%, 0.6% and 0.5% in Germany, Spain, the U.K., and France. But the Japanese Nikkei closed 0.4% higher. The United States is engaged in a three-frontal confrontation: a trade war with China, a potential […] More
Central Bank of Russia Hints of Coming Interest Rate Hike
April 26, 2019
Officials at the Central Bank of the Russian Federation left the one-week repo rate unchanged at 7.75% for a third straight policy review. Such had been raised by 25 basis points each last September and December. But a released statement expressed confidence that a nascent upturn in inflation was nipped early by those tightenings and […] More
Bank of Russia Surprises Market with 25-Basis Point Key Interest Rate Hike to 7.5%
September 14, 2018
According to a statement released by the Board of Directors, inflation is climbing toward 4% faster than expected and inflation expectations have moved slightly higher, warranting today’s decision to implement the central bank’s first rate increase since mid-December of 2014. The peak of 17.0% only was retained for 7 weeks. A series of reductions ensued […] More
Central Bank of the Russian Federation Leaves Policy as Is
April 27, 2018
Breaking a streak of five straight reductions of the key central bank between last September and March and totaling 175 basis points, the Bank of Russia Board of Directors agreed to leave such unchanged at 7.25% at today’s review. A released statement said that CPI inflation of 2.4% last month was still low but that […] More
