Tag Archives: Central Bank of Russia

Interest rates represent cost of borrowing and income from saving. Both are reduced by cutting rates. Since is this is a decrease in price, it is disinflationary, which is opposite to what central bankers assume. Savers receive less income, which would likely have been spent on goods purchases. Lower of the cost of firm investment potentially results in lower goods prices. On the other hand, in deciding on a monetary policy using interest rate setting, central banks assume that lower...

The headline is a bit sensational (clickbait) but the head of the Central Bank of Russia is positive about considering it, although she doesn't see it as the priority. The Central Bank of Russia (CBR) is studying a proposal to create a gold-backed cryptocurrency, which could be used for cross-border settlements with other countries.The bold proposal was made by Russia’s State Duma member Vladimir Gutenev. He has suggested initiating discussion to set up national cryptocurrency, denominated...

This is fiscal injection using the books of the Central Bank of Russia rather than the government budget. The central bank is acquiring assets for its own liabilities denominated in the currency it issues, while if fiscal spending were used to inject currency into the economy, the fiscal balance would be show increasing government liabilities.A declining fiscal balance would be interpreted as a negative signal, whereas the central bank acquiring gold reserves ("hard assets") is considered...

Sanctions do not have a decisive impact on economic growth in Russia, said Elvira Nabiullina. The head of the regulator spoke at a press conference with journalists today. “With regard to sanctions risks, geopolitical, we, of course, take this into account as one of the significant factors in forecasting the development of the economy. But I want to say that, in general, the economy is adapting to these sanctions, and we see that the growth rates are now close to potential. This factor...

The Bank of Russia not going to resume purchasing foreign currency on behalf of the Russian Finance Ministry even if the there is a decrease in volatility in the foreign exchange market, First Deputy Governor Ksenia Yudaeva said on Thursday.... De-dollarization continues. Sputnik International Bank of Russia Won't Buy Foreign Currency Until Year’s End – Deputy Governor

This not only adds to gold reserves but it also pumps rubles into the economy without "debt financing" or taxation to "balance the budget."Fort RussRussian Central Bank buys 100% of the gold mined in Russia Rusvesna - translated by Inessa Sinchougova

Russian economy on track in spite of sanctions.Fort Russ[Central] Banker:Russian inflation will be about 3% in early 2018 - economy continues to grow despite US sanctionsPaul Antonopoulos

The Bank of Russia continues to sabotage Russia's economic recovery by over-estimating the effects of a hostile U.S. Congress. Who's afraid of the big bad wolf? Elvira Nabiullina.  Russia InsiderBank of Russia’s Worries Stifling GrowthTom Luongo

The board of directors of Russia’s Central Bank decided to cut the key rate by 25 basis points to 8.25% per annum at the meeting on October 27, 2017, the regulator reported Friday. The board notes that inflation holds close to 4%. Its downward deviation against the forecast is driven mainly by temporary factors, the regulator said, while the economy continues to grow.The regulator left open the option of further rate reduction at its upcoming meetings. It also noted a gradual transition...

"Starting from November 1, 2017, the Bank of Russia will post gold procurement bids during trading sessions of the Moscow Exchange along with gold purchases on the over-the-counter market for purposes of developing the organized market of precious metals and increasing the number of counterparties," the Central Bank said. TASSBank of Russia to start buying gold on Moscow Exchange