CBR leaves rates unchanged
CBR leaves rates unchanged As the markets expected, the Central Bank of Russia suspended systematic rate cuts at last week’s meeting, leaving the key rate at 11 %. Having cut at every meeting since t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Output down in most manufacturing branches
Output down in most manufacturing branches In the second quarter of this year, manufacturing output was down over 7 % y-o-y, a distinct deepening from the start of the year. Lower fixed capital inve...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
CBR now publishes the RUONIA rate
Russia CBR now publishes the RUONIA rate The weighted average interest rate on unsecured overnight interbank ruble loans, or Ruonia (Ruble Overnight Index Average) is a key reference rate for R...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
First-quarter figures show contraction in Russian foreign trade and net capital outflow
Russia* First-quarter figures show contraction in Russian foreign trade and net capital outflow Preliminary balance- of-payments figures show that the value of Russian exports of goods and services ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Commercial banks participating in CBR’s digital ruble pilot trial
Russia Commercial banks participating in CBR’s digital ruble pilot trial The Central Bank of Russia only began in earnest to plan the introduction of a digital currency last year, but the basic desi...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Russian fixed investment bounces back after the Covid Recession
Russia Russian fixed investment bounces back after the Covid Recession Demand-side figures in Rosstat’s national accounts show a strong rebound in seasonally adjusted growth in fixed investment in t...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
China establishes itself as major arms exporter and importer
China establishes itself as major arms exporter and importer A report published last month by the Stockholm International Peace Research Institute (SIPRI) finds that the volume of international arms ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Russian government sells Bashneft to Rosneft
Russian government sells Bashneft to Rosneft The state’s 50.08 % stake in the Bashneft oil company has been on this year’s privatization list. Russian government decided this week to sell the stake ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
CBR raises key rate again; monetary policy guidelines for 2022–2024 announced
Russia CBR raises key rate again; monetary policy guidelines for 2022–2024 announced On September 10, the Central Bank of Russia decided to raise the key rate by 25 basis points. The key rate now st...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Recovery of Russian government budget revenues has brought rebalance
Russia Recovery of Russian government budget revenues has brought rebalance Recovery of Russian government budget revenues has brought rebalance Rebound of revenues on the consolidated budget (fede...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Russian bank lending turning to growth
Russian bank lending turning to growth Russian bank lending turning to growth The stock of corporate bank loans has contracted since early 2016, but in recent months the contraction seems to have ha...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Russian economic growth remained brisk in October
Russia Russian economic growth remained brisk in October According to Rosstat’s preliminary estimates, GDP grew in the first nine months of the year by 4.6 % y-o-y. The economic development min...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2021
Ruble strengthening on higher oil prices
Ruble strengthening on higher oil prices This week the ruble-dollar exchange rate hovered around 66 RUB, while the euro-ruble rate held around 74 RUB. The ruble has appreciated more than 20 % against...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russian president holds annual state-of-the-nation address; government resigns unexpectedly thereafter
Russia Russian president holds annual state-of-the-nation address; government resigns unexpectedly thereafter On Wednesday (Jan. 15), president Vladimir Putin delivered his annual state-of-the-natio...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2020
Russian economy continued to contract in December
Russian economy continued to contract in December Rosstat reports that industrial output and retail sales both continued to slide in December. In annual terms, retail sales were down 15 %, a fall amp...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Russian economy weakened sharply in first two months of the year; rising oil prices bring relief
BOFIT Weekly Review,Russia Russian economy weakened sharply in first two months of the year; rising oil prices bring relief While Russian economic trends weakened dramatically in January and Februar...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2026
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...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2025
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...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
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...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2023
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...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022