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Russia's central bank

Russian central bank cuts key rate

Russian central bank cuts key rate

Published 08 Apr, 2022 07:45pm
MOSCOW: Russia’s central bank announced Friday it was cutting its key interest rate, which had been hiked after...
Russia's key rate could be above 6pc some time next year, says central bank

Russia's key rate could be above 6pc some time next year, says central bank

Updated 23 Jun, 2021 05:23pm
  • The central bank raised its key interest rate by 50 basis points to 5.5% earlier this month and said more hikes would be needed to rein in inflation, which had accelerated to 6.15% as of June 7.
  • At this point in time we can only say that both growth and inflation are probably tracking somewhat higher than the April forecast presumed.
Russia's TCS Group sees net profit at 75bn roubles in 2023

Russia's TCS Group sees net profit at 75bn roubles in 2023

Published 07 Apr, 2021 08:34pm
  • TCS posted a 22% increase in net profit last year to 44.2 billion roubles, a record high, as the Russian bank said the number of customers for its non-credit products exceeded those seeking credit for the first time.
  • The group, which runs Russia's largest online bank Tinkoff with more than 13 million customers, forecast a return-on-equity of more than 30% every year.
Russia's inflation may slow to 4pc target by year-end

Russia's inflation may slow to 4pc target by year-end

Published 25 Mar, 2021 06:55pm
  • An increase in the inflation reading, which was driven by a depreciation of the rouble, prompted the central bank to raise rates this month.
  • The central bank is now expected to tighten its monetary policy further later this year to rein in a rise in consumer prices.
Illegal forex dealers pose challenge to Russian central bank

Illegal forex dealers pose challenge to Russian central bank

Updated 11 Feb, 2021 12:29am
  • Fraudsters stepped up online activities last year as the coronavirus pandemic hit the Russian economy and people turned to the stock and foreign exchange markets in search of new sources of income.
  • Most operate online and position themselves as foreign companies registered in Britain, Cyprus and offshore islands.
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