russian economy

Nabiullina3

Russia: Central Bank Cuts Interest Rates To Post-Soviet Low

Angela Freyre (Julius Baer) | Russia’s central bank slashed its benchmark interest rate to a post-Soviet low as the economy enters a deep recession fuelled by the fall in oil prices and the coronavirus pandemic. The bank lowered its key rate by 100 basis points to 4.5%, following a 50 basis-point cut in April.



Rusia's economy recovery

Russia: It’s a tough nut (as well hard to reform)

Xavier Colás | Russia is hoping that in 2017 its economic indicators will look brighter again after three years of questions over the country’s economic health due to sanctions, rock-bottom oil prices and a rouble which has lost half of its value.



Alexander Pechersky2Bandera

“I don´t think amnesty for Russian offshore capital will be useful”

MADRID | By Ana Fuentes and Sean Duffy | Uncertainty surrounding the future impact of sanctions both at home and abroad has seen a mass exodus of capital from Russia this year. The Government has sought to address the issue by offering an amnesty to Russians with money stashed overseas. Over $100 billion has left the country in 2014 and Alexander Pechersky, a managing partner from ALT R&C, is sceptical about the impact this latest measure will have. “I don’t really believe in the efficiency of this amnesty. I think this is a measure for the media and to gain some headlines.” 


Spain recession

Falling oil prices are killing the ruble

MADRID | The Corner | The ruble plummeted on Monday, suffering its worst daily fall since Russia’s 1998 crisis, plunging more than 6% against the dollar before recovering to losses of around 4% Lowering oil prices are killing the currency, and yet Moscow does not intend to cut production in 2015, leaving output at the current 525-526 million metric tons. Russian analysts commenting for The Corner explained there is enough currency liquidity in the market to handle the shock. At least for now.