This tag is associated with 6 posts

Russia Reduces Key Interest Rate To 11% – The Central Bank Says Economic Growth Is A Priority

The Central Bank of Russia (CBR) has cut the key interest rate from 11.5% to 11.0% citing growth as a priority. The rate cut is already the 5th consecutive one this year. Last Friday, the Central Bank of Russia (CBR) said in a statement the following: Major macroeconomic indicators demonstrate further economy cooling. The Bank of Russia estimates GDP decrease … Continue reading

Russia To Launch A Rating Agency By Year End

Russia is planning to launch a rating agency by the end of this year. The Central Bank of Russia (CBR) reported, the initial capital would be around $52 million. The CBR said today in a statement the following: … credit rating agencies are one of the most important elements of the financial market infrastructure. Their activities … Continue reading

U.S. Weighing Expulsion Of Russia From SWIFT Interbank Payment System

The U.S. Treasury Department is still evaluating and discussing the impacts of expelling Russia from the SWIFT interbank payment system, U.S. Treasury Assistant Secretary for International Finance Ramin Toloui said at a U.S. Senate Foreign Relations Committee hearing on Tuesday. During the Committee hearing, U.S. Senator Marco Rubio asked the panel that if Russia was to violate the Minsk Protocol, what the … Continue reading

​Russia Increases Gold Purchases By 123%

The Central Bank of Russia bought a record amount of gold in the first 11 months of 2014 spending an estimated $6.1 billion. Increasing gold reserves attempts to reduce dependence on the dollar amid geopolitical tension, Mark O’Byrne of GoldCore, told RT. Russia’s gold purchases accounted for a third of the world’s total of 461 … Continue reading

Ruble Plummets Losing More Than 20% In A Day, Hitting New Dollar And Euro Lows

No end seems to be in sight for the plight of the Russian ruble, which slumped to new record lows against hard currencies Tuesday. The EUR traded at 99.56 against the ruble, and the USD at 79.17. At the time of publication the official website of the Moscow Exchange wasn’t available, the data comes from … Continue reading

Russia To Have Its Own International Inter-Bank System By May 2015: CBR

Russia plans to launch its own international inter-bank system by May 2015. The country desperately is trying to detach from the international system in order to gain more independence and wants to be prepared for the worst case scenario in case of possible ”challenges” from the West. “Given the challenges, Bank of Russia is creating its … Continue reading

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