CBR cuts key rate to 14 %
CBR cuts key rate to 14 % Last Friday (Mar. 13), the Central Bank of Russia cut its key rate one percentage point on the heels of its February lowering to 15 %. With risks of weaker economic growth s...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
CBR surprises with 2 p.p. cut in key rate
CBR surprises with 2 p.p. cut in key rate The key rate was lowered to 15 % starting from Monday (Feb 2). The Central Bank of Russia said the rate cut was possible because its 6.5-percentage-point inc...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Contractions in Russian exports and imports intensified
Contractions in Russian exports and imports intensified Preliminary CBR balance-of-payments figures show export earnings on goods and services in the fourth quarter of 2014 fell 19 % in dollar terms ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Russian interest rates surged late last year
Russian interest rates surged late last year In order to calm inflation and capital exports, the Central Bank of Russia last year raised its key rate (the 7-day repo credit rate) six times. Over the ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2015
Further tightening of Russian regional budgets
Further tightening of Russian regional budgets Nominal regional budget revenues in January-July 2016 were unchanged from January-July 2015. Transfers from the federal budget to regional budgets fell ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2016
Change in the law pushes millions of Russians into Mir payment cards
Change in the law pushes millions of Russians into Mir payment cards At the start of the week, president Putin signed legislative amendments, whereby wages paid from government budgets and many socia...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Oil revenues continue increasing for the Russian government
Russia Oil revenues continue increasing for the Russian government The second-quarter rise in federal budget revenues was so substantial that first-half revenues were up by over 20 % y-o-y. Most of ...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Revised Rosstat figures give a significantly brighter view of recent industrial output growth
Russia Revised Rosstat figures give a significantly brighter view of recent industrial output growth Revised 2016–17 data show that Russian industrial output, rather than the 2.3 % reported earlier,...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Rosstat releases latest quarterly GDP figures for this year
#Russia Rosstat releases latest quarterly GDP figures for this year Rosstat’s latest batch of economic figures show Russian GDP contracted by 3.7 % y-o-y in the third quarter. The preliminary e...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2022
Russian government places two Eurobond issues
Russian government places two Eurobond issues Last week the finance ministry placed 11-year and 30-year Eurobond issues worth a total of 4 billion dollars. The 11-year bond carries an initial yield o...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Ruble strengthening returns
Ruble strengthening returns After a couple of months of weakening, the ruble’s exchange rate recovered in September and has since remained around 58 rubles to the dollar and 68 to the euro. Rising oi...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Wide variations in Russian manufacturing branches last year
Russia Wide variations in Russian manufacturing branches last year Wide variations in Russian manufacturing branches last year Total manufacturing output recovered only slightly last year. After tw...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2018
Russian first-quarter GDP contracted by 2 % on year
#russia Russian first-quarter GDP contracted by 2 % on year Rosstat’s preliminary estimate suggests that Russian GDP contracted by 2 % y-o-y during the January-March period. The rate of contrac...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2023
Russians moving to mobile banking
Russians moving to mobile banking With a shrinking number of local bank branch offices and fewer ATMs, households are turning to netbanking services. A recent Central Bank of Russia survey found that...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2017
Lower growth in Russian construction activity
Russia Lower growth in Russian construction activity According to Rosstat, annual real growth in construction activity in 2018 was still 5.3 %. This year, growth has been non-existent. The volu...
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 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
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
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
Growth in Russian industrial output revived in February
Russia Growth in Russian industrial output revived in February Industrial output growth rose to 2.6 % y-o-y in January-February. The figure moved up towards the growth figure for all of 2018. E...
Bofit.fi / Bofit homepage / Monitoring / Weekly Review / 2019