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Rouble

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
Sberbank sees no need for fresh provisions on past loans, bets on stronger 2021 results
Business & Finance

Sberbank sees no need for fresh provisions on past loans, bets on stronger 2021 results

  • Sberbank set aside 541 billion roubles ($7.4 billion) in provisions for non-performing loans last year when the COVID-19 pandemic hit the Russian economy and some of its clients.
  • He added that Sberbank, which made a net profit of 781.6 billion roubles in 2020 under Russian accounting standards, will stick to its plan to channel at least 50% of net profit to dividend payments.
Published 16 Feb, 2021 07:41pm
Russian rouble recovers after sell-off led by sanction risk
Markets

Russian rouble recovers after sell-off led by sanction risk

  • Risk of sanctions linked to the arrest of Kremlin critic Alexei Navalny upon his return to Russia for the first time since being poisoned last summer hit the rouble on Monday.
  • Rouble was 0.3% stronger against the dollar at 73.75 and was flat against the euro, trading at 89.45.
Published 19 Jan, 2021 05:39pm
Rouble overcomes sanction fears to recover against dollar
Markets

Rouble overcomes sanction fears to recover against dollar

  • The rouble was 1% stronger against the dollar at 75.15, up from its weakest level since early December of 75.91.
  • Market sentiment has been soured by fears that the West may impose new sanctions, although Moscow denies any wrongdoing.
Published 23 Dec, 2020 05:38pm