{{dayPoint.date | date : 'd MMMM yyyy'}}

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

RUSSIA'S ECONOMY

Russia’s Central Bank lowers key rate

Inflationary expectations in Russia declined in February to new lows

© Sergei Bobylev/TASS

MOSCOW, March 23. /TASS/. The Russian Central Bank lowered the key rate to 7.25% per annum from 7.5% one and a half months after the previous cut.

"Annual inflation remains sustainably low. Inflation expectations are diminishing progressively. The Bank of Russia forecasts annual inflation to be 3-4% in late 2018 and remain close to 4% in 2019. In this environment the Bank of Russia will continue to reduce the key rate and will complete the transition to neutral monetary policy in 2018," the regulator said in a statement.

Read also

Keying into the Russian Central Bank's key rate

According to the Central Bank, monetary conditions continue to ease; their disinflationary effect is gradually declining. At the same time, the regulator’s assessment of inflation risks has not changed significantly, save for the risks posed by the labor market. "The dynamics of wages and unemployment create prerequisites for potentially higher inflationary pressure. At the moment, the assessment of the duration and scale of effect of these drivers remains unclear. The Bank of Russia will pay particular attention to the situation in the labor market, including the impact of the dynamics of incomes and wages on consumer behavior and inflation," the statement said.

The growth rate of Russia’s GDP, according to the Central Bank, will reach 1.5-2% in 2018-2020. "The Bank of Russia’s general perceptions of the Russian economy’s growth have remained unchanged. The Bank of Russia has slightly raised the oil price in its baseline scenario. However, it has not entailed any significant review of the Russian economy’s growth rate in the medium term due to its decreased sensitivity to oil price changes and remaining structural constraints. In 2018-2020, GDP will grow by 1.5-2%, which corresponds to the potential growth rate of the economy," the regulator said.

Inflationary expectations in Russia declined in February to new lows - 8.4% from 8.9% in January - against the background of annual inflation of 2.2%. Last week, the Central Bank did not rule out economic growth of 0.4% in January-March 2018 in quarterly terms, and 0.5% in April-June, as well as an increase of the estimate GDP growth for 2017 from the current 1.5%.

The forecast

The Bank of Russia will continue to reduce the key rate and will complete the transition to neutral monetary policy in 2018, the regulator said in a press release on Friday.

The regulator notes that the board took the decision to cut the key rate considering that annual inflation remains sustainably low.

"In February 2018 it stood at 2.2%. Inflation remains below 4% longer than expected, allowing for a quicker transition to neutral monetary policy this year," according to the press release.

Russian minister highlights difficulties in establishing depository links with China

Once depository links between the two countries are established, it will make it easier for investors in both countries to move money and invest in each other’s markets, Anton Siluanov noted

Only quarter of Western companies leave Russian market — Putin

The Russian leader noted that "despite political pressure, many partners, including from Western Europe and the United States, remained on the Russian market"

South Korean government agrees to lift martial law — Yonhap

In a televised address, the President Yoon Suk Yeol pledged to support the corresponding ruling of the parliament

Russia's test of Oreshnik missile proves lack of trust in West — diplomat

Russian President Vladimir Putin earlier emphasized that the West’s provocative policies could have dire consequences if they further escalate the conflict

Russia to hold several conversations on situation in Syria — Foreign Ministry

Syria has been in conflict since 2011

Russia ready to bury the hatchet with Georgia, needs to see desire from Tbilisi — diplomat

According to Maria Zakharova, Moscow hopes that traditional Georgian wisdom will win out

Russian troops break through Ukrainian defenses near Kupyansk, says military expert

The Ukrainian military is attempting to regain control of the road section, which is important in terms of logistics, Andrey Marochko noted

Russian Embassy in UK brands Starmer’s hints at talks on Ukraine as hypocritical

The Russian diplomatic mission stressed that "a genuine peace in Ukraine may be achieved exclusively by eradicating the crisis’ root causes, the shaping of which was greatly contributed to by the British and their allies

Russia strongly condemns terrorist incursion in Syria — envoy to UN

Vasily Nebenzya said that the Syrian military, with support from Russia and other allies operating at the request of the legitimate Syrian authorities, is repelling the militants

Relations between Armenia, CSTO passed point of no return — Pashinyan

According to the Armenian Prime Minister, Yerevan suspended its participation in CSTO because of the absence of the "appropriate reaction" to the "external aggression at the borders of sovereign Armenia in 2021 and 2022"

US is going bankrupt fast — Elon Musk

US entrepreneur, along with entrepreneur Vivek Ramaswami, will head the newly created "Department of Government Efficiency" in Donald Trump’s administration

World is now closer to nuclear war than ever before — US journalist Carlson

No one in Washington "is working to make sure that this conflict doesn’t become a nuclear holocaust," the journalist said

NATO may offer Ukraine deferred membership in 2025, top Portuguese diplomat says

The Ukrainian Foreign Ministry stated earlier that the only security guarantee the country could accept would be full-fledged NATO membership

West does not share advanced equipment fearing it may end up in Russia — Ukrainian expert

Maria Berlinskay also recognized the superiority of the Russian army, calling it one of the "strongest armies in the world," and opined that none of the NATO countries would be able to withstand a confrontation with the Russian military

Georgian ruling party leader Garibashvili quits his party — TV

No further details were provided

Russia develops new-generation Kedr strategic missiles system

According to the source, the project is currently undergoing the science and development phase

South Korea’s national security adviser resigns — Yonhap

Earlier, the agency reported that senior administration officials - including advisers and presidential secretariat staffers - started to resign in the wake of the president’s decision to impose martial law

Europe quietly prepares for World War III — Newsweek

Europe’s preparation for war with Russia is visible through increased defense spending in certain countries, the article says

Russian MFA says Malta canceled visa for its spokeswoman ahead of trip to OSCE meeting

It happened just as the Russian delegation was about to board a flight from Moscow, the ministry said in a statement

Zelensky softens rhetoric on territorial concessions to Russia — web portal

According to the report, the rhetoric has changed as Russian troops break through Ukrainian defenses on their increasingly rapid westward advance

No discussions of NATO invitation for Ukraine, only weapons supplies — bloc’s chief

NATO Secretary General Mark Rutte reiterated that NATO allies agreed that "the future of Ukraine is in NATO"

Authorities order evacuation from 180 settlements in Ukraine Sumy Region — official

According to Vladimir Artyukh, three evacuation waves have taken place in the Sumy Region since February 2022

Settlement of Nadiya in LPR up for grabs as Kiev retreats — Russian expert

Andrey Marochko noted that the Ukrainian army was fighting with all its might to beat back Russian forces near the settlement of Belogorovka, hoping to prevent them from making gains and increasing Russia’s pressure on the northern section of the frontline

Oreshnik missile proves all of Ukraine within Russia’s weapons reach — expert

Ou Si-Fu stated that the purpose of using the latest system was to "demonstrate the capabilities of new types of offensive weapons, which the Ukrainian side cannot counter, and that the whole of Ukraine is within Russia's strike range"

CSTO to hold drills in Belarus, Kazakhstan, Tajikistan, Kyrgyzstan in 2025 — bloc’s chief

"I should also note that the Kyrgyz Defense Ministry takes a very responsible approach towards holding such drills and I am deeply convinced that the exercises which will run on the territory of Kyrgyzstan in 2025 will also be held at a very high organizational level," Imangali Tasmagambetov said

Ukrainian front collapses as Kiev faces worst situation since conflict started — analyst

Maria Berlinskaya noted the demoralization of Ukrainian society that, she said, is brought about by the actions of the country's military and political leadership and the corruption of officials

Russian forces take control of LPR administrative border near Stelmakhovka — expert

Andrey Marochko said that in order to take full control of the LPR, Russian forces had to push Ukrainian troops out of five more settlements

Putin points to mass human rights violations, persecution of Church in Ukraine

The Russian president emphasized that an increasing number of people around the world were coming to understand the true causes of the conflict in Ukraine, unleashed by the Western elites, as well as the fact there is no excuse for crimes against civilians, ethnic and religious cleansings, terrorist attacks and punitive actions by neo-Nazis

Initiators of South Korean martial law fail to subjugate whole army — TV channel

According to the report, Defense Minister Kim Yong Hyun proposed the idea to President Yoon Suk Yeol

Lavrov speaks about situation in Ukraine, region’s future in interview with US journalist

"The interview will be released in the coming days," Maria Zakharova added

Russia never rejected dollar — Putin

"We were denied of its use but the denial, as our saying goes - they got what they fought for," the Russian leader said

Swiss court to review Nord Stream 2 operator’s debt

The bankruptcy procedure for Nord Stream 2 AG has been renewed until January 2025. Transliq AG remains the temporary administrative receiver

Russian army captures soldiers of Ukrainian presidential brigade

The POWs are currently being kept safe and are receiving all necessary assistance

Syrian forces push militants back from city of Hama — newspaper

According to the report, terrorist positions and routes are under fire, several militants have been wiped out and their military equipment has been destroyed

Telecommunications cable between Sweden, Finland disrupted, newspaper reports

According to the report, it was a submarine internet cable

Russian troops enter Novy Komar settlement in DPR — politician

According to Vladimir Rogov, Russian troops have liberated approximately 20 square kilometers north of Velikaya Novoselka, near the village of Razdolnoye

South Korean opposition initiates president’s impeachment — news agency

The vote on the bill should be held within 24 to 72 hours from the time of its consideration at a plenary session

US seeks to preserve its occupation of northeast Syria — Russia’s UN envoy

"The United States and its allies are using every opportunity to sow chaos in the country, applying sanctions to asphyxiate the country’s economy and supporting Idlib-based terrorists and the extremist underground in the SAR," Vasily Nebenzya said

Kremlin spokesman sees no grounds for Russia-Ukraine negotiations so far

Dmitry Peskov added that number of countries have already offered to host such talks, including Qatar

Syrian army takes control of Hama city’s outskirts — TV

According to the broadcaster, there are no militants left in the area and security is fully ensured by Syrian forces

Russia hammers Ukrainian military airfield infrastructure over past day — top brass

Russia’s Battlegroup West repelled 10 Ukrainian counterattacks and inflicted roughly 500 casualties on enemy troops in its area of responsibility over the past day

West seeks to shift blame for its Ukrainian madness onto Ukrainians — Russian diplomat

"The West is gradually trying to prepare the ground to blame Ukraine, the Ukrainian people, and perhaps Vladimir Zelensky and some other political figures for their own recklessness, crimes, and crazy criminal philosophy of inflicting a strategic defeat on Russia, as they put it," Maria Zakharova said

South Korea’s largest trade union to go on indefinite strike until president resigns

Workers of South Korea’s biggest railway company KORAIL will also go on an indefinite strike on december 5

Lavrov’s interview with Tucker Carlson turns out very interesting — Russian diplomat

According to Maria Zakharova, the interview is currently being translated and will be released in a couple of days

South Korea’s defense minister apologizes to citizens, resigns — media

According to media reports, it was Kim Yong Hyun who advised the president to impose martial law

Russian ombudsman publishes list of 630 POWs Kiev refuses to take back

Tatyana Moskalkova pointed out that these POWs have been in Russian captivity for over one year

South Korea unpredictable, Pyongyang right to worry about its security — Russian diplomat

Maria Zakharova also pointed to the fate of former South Korean leaders: some were killed, overthrown, imprisoned, some committed suicide

US journalist Carlson says he arrived in Moscow for interview with Russia’s top diplomat

The interview is "absolutely fascinating," the journalist said

Russian troops liberate two communities in Donbass area, Zaporozhye Region over past day

Russia’s Battlegroup South inflicted roughly 370 casualties on Ukrainian troops and destroyed an enemy ammunition depot over the past day, the ministry reported

NATO infrastructure near Russia’s borders could lead to any scenario, says CSTO chief

Imangali Tasmagambetov pointed out that NATO’s attempt to invade Russia and Belarus would be sheer foolishness

Putin questions logic behind Volkswagen leaving Russia

The Russian president stressed that Russia allowed its German partners to operate under free market conditions in the country

Syrian troops regain control over several districts northeast of Hama

According to the report, pro-government forces managed to advance towards the outskirts of the town of Khanasir

Ukrainian army to draft all men soon, officer warns

It is reported that employees of recruitment centers are being reassigned to army positions at the home front

IN BRIEF: Putin’s main statements at Russia Calling! forum

Over the past 2-3 years, the Russian economy has fundamentally change, the Russian leader noted

Syrian forces break through encirclement in coordination with Russian military

According to the Syrian military command, the cadets who suffered wounds in fighting against terrorists would get the necessary medical care in Homs

Developments in Russia’s Kursk Region: arrest of mercenary in absentia, Ukrainian losses

The Ukrainian army lost a total of more than 37,935 servicemen since the start of the hostilities

Zelensky says Ukraine tested new types of missiles

The Ukrainian president did not specify what types of missiles he was referring to, at what stage the tests were, or how successful they were

FACTBOX: What to know about rupture of telecom cable between Sweden, Finland

The newspaper said the Global Connect fiber optic network suffered a massive failure in Finland

Lavrov dismisses West's ceasefire idea: 'not a path to peace'

According to the top Russian diplomat, Moscow is ready for an honest discussion

Strategic defeat would mean destruction for Russia, Putin says

The head of state thanked the troops participating in Russia’s special military operation for rising up to defend the country this time

Thirteen more global brands to enter Russian market

The companies have confidentiality clauses when they make deals, so sparse details can be offered, including timelines for market entry, Marina Malakhatko said

Ukraine leaves first line of defense due to risk of encirclement of Nadiya in LPR — expert

Andrey Marochko noted that the enemy units have begun to rapidly reinforce their positions near the Pershotravnevoye-Raigorodka motor road

NATO chief says bloc needs to be sure Ukraine has enough people to send to fight

"We need probably more people to move to the front line," Mark Rutte stressed

NATO countries want Ukraine to fight until the last young soldier — Szijjarto

The minister noted that the meeting of NATO foreign ministers in Brussels will continue on Wednesday

Bank of Russia assumes possibility of key rate lifting in December

The 15th VTB Russia Calling! Investment Forum is being held on December 4-5 in Moscow. TASS is the information partner of the forum

Ukraine has lost its chance for NATO membership, a ‘normal’ peace treaty with Russia — MP

"Such things are done from a strong position. Now, Zelensky has led the country to a state where such a position has been lost, regrettably," the Ukrainian lawmaker said

Escalation in Syria clearly involves Ukrainians — Foreign Ministry

Maria Zakharova ighlighted reports suggesting that the Kiev regime's security services are collaborating with terrorists, supplying them with drones and sharing expertise in their use

Press review: South Korean crisis deepens as Kremlin rules out talks with Kiev

Top stories from the Russian press on Wednesday, December 4th

Ukraine to make concessions to Russia under Trump’s plan — agency

It is reported that the US president-elect has yet to establish a working group to develop a peace plan for Ukraine

Georgian president unable to become opposition leader — prime minister

Irakli Kobakhidze recalled that Salome Zourabichvili’s presidential term expires on December 29

Russians to receive a record $66.7 bln in 2024 — VTB

The tax on gains from deposit interest will remain at the level of 13-15%, Dmitry Breitenbikher noted

Trump must restore relations with Russia to end Ukraine conflict — expert

Alexander Dynkin described the "the first minimal but extremely necessary steps" for Washington

FACTBOX: Central Bank chief highlights key rate, inflation

The key rate is a strong tool to counter inflation and it helped to "prevent entering an inflation spiral"

Over 300,000 personnel undergo combat training for Ukraine operation — Russia’s top brass

Military instruction pays special attention to servicemen’s individual training

Russian MiG-31I jets with Kinzhal missiles take part in Mediterranean drills — top brass

The Russian Navy and Aerospace Forces are conducting their joint drills with the observance of international law and agreements with foreign states on the prevention of incidents at sea beyond the territorial waters and airspace above them, the ministry said

Iran’s senior military commander, Belousov discuss ways of countering terrorists in Syria

"Syria's neighbors should take the necessary measures to prevent terrorists from receiving external assistance," Lieutenant General Mohammad Bagheri said

Nearly third of those identified at protests in Tbilisi are foreigners — ruling party

The current wave of protests was sparked by Prime Minister Irakli Kobakhidze's statement on November 28 when he said that the ruling Georgian Dream - Democratic Georgia party had decided to postpone any talk about launching accession negotiations until late 2028 and decline any funding from the European Union

Top German diplomat says Berlin could send peacekeepers to Ukraine — agency

Annalena Baerbock also believes that along with security guarantees for Ukraine in the form of NATO membership, "international presence aimed at ensuring a ceasefire" could be considered

‘Desperation in the air’ — expert on Kallas’ statement on sending troops to Ukraine

According to Ralph Bosshard, "statements by leading European politicians will become more extreme as Ukraine’s defeat in the war draws nearer"

IN BRIEF: What is known about the situation in South Korea

Earlier, South Korean President Yoon Suk Yeol announced the imposition of martial law

Tucker Carlson says US embassy in Kiev barred Zelensky from doing interview with him

The journalist added that Vladimir Zelensky was permitted to have a conversation with CNN, but not with him

Russia 'making gains' along entire frontline, NATO chief says

Mark Rutte once again called on NATO countries to increase weapons supplies to Kiev

MEP says that Zelensky himself does not believe in military solution in Ukraine

In an interview with the Kyodo news agency, Zelensky admitted that the Ukrainian army was unable to retake the lost territories

Trump tells Trudeau Canada to become 51st US state if it doesn’t stop migration

According to media, the comment prompted the Canadian delegation, including the prime minister, to "laugh nervously"

Siberian cat Putin gave as a gift to governor of Akita Prefecture in 2012 dies in Japan

Over the 12 years of his life, Mir was treated like a member of Norihisa Satake's family

South Korean opposition tells president to resign, threatens to impeach him — Kyodo

The Democratic Party, which controls 170 seats in the 300-seat parliament, threatened to impeach Yoon Suk Yeol otherwise

Iraq sends tank units to reinforce border with Syria

The spokesman Yahya Rasul denied reports alleging that some PMF units crossed into Syrian territory

Opposition party leader Nika Gvaramia detained in Georgia

The police also continue to search the offices of other opposition parties and organizations

Georgian mercenary hit with criminal charges, POWs: situation in Kursk Region

Strikes by operational-tactical aircraft and artillery fire hit enemy manpower and hardware in the Kursk and Sumy regions

Russia traps Ukrainian forces at Kurakhovo pipe plant — security services

The report clarified that the Ukrainian armed forces in this frontline area are being pressured by Russian troops from the north, south, and east

IN BRIEF: What is known about introduction of martial law in South Korea

The ruling party and the opposition condemned this decision

Oreshnik becomes serious problem for Ukraine — Polish general

According to Waldemar Skrzypczak, satellite reconnaissance failed to detect the launch and flight of this missile

Russian forces mopping up Stariye Terny community in Donbass region, says official

Vladimir Rogov said earlier that the liberation of that settlement would deny the Ukrainian army the possibility to relocate units directly between Solntsevka in the north and Kurakhovo

Russian Su-34 bomber destroys Ukrainian armor by glide bombs in Kursk area

The Su-34 frontline bomber delivered the strike by aerial bombs with the unified glide/adjustment module, the ministry specified

Trump's attempts to stop de-dollarization by force risk backfiring — Bloomberg

According to the experts, such tactics are pushing countries to jointly seek alternatives to the dollar

US turned UN Security Council meeting on Syria into political farce — Russia’s UN mission

"Today, as a result of your awkward actions, we saw how a meeting on an extremely serious issue can be turned into a disgraceful political farce, by inviting a totally unsuitable speaker and playing into his hands," Dmitry Polyansky said

US, Europe did not yet take last step to steal Russia’s assets — Putin

In these conditions, Russia was forced to retaliate, the president stressed

FACTBOX: What we know about situation in Abkhazia

On November 28, members of the Abkhazian parliament adopted a resolution on setting an early presidential election for February 15, 2025

Trump reportedly has three plans for Ukraine, one drafted by VP-elect Vance — Reuters

According to the report, alongside Vance's plan, Donald Trump is reviewing settlement proposals from Keith Kellogg, whom he proposed as his assistant and special envoy for Ukraine and Russia

Russian Navy, Aerospace Forces launch precision missiles in Mediterranean drills

All the designated targets were engaged by direct hits

Russian forces take up positions in downtown Kurakhovo in DPR — activist

Vladimir Rogov told TASS earlier that Russian troops had moved past the city center in Kurakhovo to fight in the city’s west