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May 21, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Russian central bank

Rouble hits more than 1-month high after Russia hikes rates
Markets

Rouble hits more than 1-month high after Russia hikes rates

  • The central bank, which had been widely expected to raise rates to rein in high inflation due to the rouble's weakness, hiked it by a bigger-than-expected 50 basis points to 5%.
  • "It creates room for the undervalued rouble to rebound as heightened geopolitical risks are pared back in the near-term," said MUFG Bank in a note.
Published 23 Apr, 2021 07:50pm
Russian central bank considers digital rouble in 2023
Business & Finance

Russian central bank considers digital rouble in 2023

  • "It will be feasible to introduce limits on the transactions from non-cash form into the digital rouble," Zabotkin said, adding that the central bank will stand ready to compensate for possible liquidity shortages when introducing the digital rouble.
  • The central bank first floated the idea of the digital rouble in October, citing the need to make payments more convenient.
Published 08 Apr, 2021 08:19pm
Russia seen holding interest rates throughout 2021
Business & Finance

Russia seen holding interest rates throughout 2021

  • The consensus forecast of 20 analysts and economists polled in late February suggested the central bank would hold its benchmark rate at 4.25% throughout 2021. Forecasts for the year-end ranged from 4.0% to 5.5%.
  • Analysts forecast inflation would rise to 5.3% in the first quarter of 2021 before gradually slowing below the 4% target to 3.8% by the end of the year.
Published 26 Feb, 2021 09:01pm
Russia's GDP to return to pre-crisis levels by end-2021
Business & Finance

Russia's GDP to return to pre-crisis levels by end-2021

  • Monetary policy, which is currently soft with the key rate at a historic low of 4.25%, would become neutral as soon as the economy returns to its potential.
  • He added that inflationary expectations had not anchored yet. The central bank has said it expects inflation to peak at around 5.5% in February-March, above the 4% target.
Published 18 Feb, 2021 06:15pm