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

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

Bank of Russia cuts key rate to 7.5%

The regulator said that economic growth in the first half of 2019 is lower than the Bank of Russia’s expectations

© Mikhail Pochuev/TASS

MOSCOW, June 14. /TASS /. Bank of Russia has cut its key rate by 25 bp to 7.5% per annum, for the first time since March 2018, the regulator said in a press release following the board of directors meeting.

"On 14 June 2019, the Bank of Russia Board of Directors decided to cut the key rate by 25 bp to 7.50% per annum. Annual inflation slowdown is continuing. In May, households’ inflation expectations and business price expectations did not materially change and remain elevated. Economic growth in the first half of 2019 is lower than the Bank of Russia’s expectations. Short-term proinflationary risks have abated compared to March," the regulator said.

The ruble slightly strengthens against the dollar and the euro on the Moscow Stock Exchange after Bank of Russia's decision to lower key rate by 25 pp per annum, for the first time since March 2018, according to the Moscow Exchange data.

The regulator said it admits the possibility of further key rate reduction at one of the upcoming Board of Directors’ meetings and a transition to neutral monetary policy until mid-2020.

In its key rate decision-making, the Bank of Russia will take into account actual and expected inflation dynamics relative to the target and economic developments over the forecast horizon, as well as risks posed by domestic and external conditions and the reaction of financial markets, according to the press release.

Inflation dynamics

The Bank of Russia has lowered its end-of-year annual inflation forecast for 2019 from 4.7-5.2% to 4.2-4.7%.

"The revised forecast takes into account the completion of the VAT increase pass-through to prices (including the influence of secondary effects) and the preservation of relatively favourable external conditions and moderate dynamics of domestic demand. Moving on, according to the Bank of Russia’s forecast, annual inflation will stay close to 4%," the regulator said.

According to the Bank of Russia, annual consumer price growth rate declined in May to 5.1% (from 5.2% in April 2019) and reached an estimated 5.0% as of 10 June.

The regulator reiterated that in May, households’ inflation expectations and business price expectations did not materially change and remain elevated.

GDP

The Bank of Russia also lowered its GDP growth forecast for 2019 from 1.2-1.7% to 1.0-1.5%. But it admits the possibility of higher economic growth rates in the coming years as national projects are implemented.

Russian court blocks JPMorgan’s funds in VTB lawsuit

The court also blocked any securities held by JPMorgan’s entities in Russia

Ukraine turns into testing ground for future world order, says Belarus president

"The largest nuclear powers, albeit indirectly, are actually fighting on Ukrainian territory. And not indirectly," the president of Belarus noted

Russian GDP growth reaches 3.6% in 2023 — statistics

The GDP deflator index in 2023 against 2022 prices moved up by 6.3%

Continued threats to Pyongyang to put US, allies in danger, Kim Jong Un’s sister warns

"We will keep building up overwhelming and strong military capacity to protect our sovereignty and security, as well as peace in the region," Kim Yo Jong said

No damage, casualties after drone attack over Russia’s Kursk Region

Roman Starovoit thanked air defense troops and the regional crisis center and cautioned residents against approaching the drone wreckage if found

Russian deputy defense minister detained on suspicion of bribe-taking

"Russian Deputy Defense Minister Timur Vladimirovich Ivanov was detained on suspicion of committing a crime under part 6, article 290 of the Russian Criminal Code," the Russian Investigative Committee said

Lukashenko says US rues giving rise to Russia-China alliance

"The world has already changed and not the way they dreamed of across the pond," the Belarusian president emphasized

Iran denies reports it pulled some military advisers from Syria — Al Mayadeen

The source denied news media reports on the subject, which appeared earlier

Moscow slams NATO drills near Russian borders as inflammatory

"It is obvious that the upcoming combat training on the territory of Finland is part of a hybrid war against our country," Maria Zakharova said

Russia to submit its own resolution on nuclear weapons in outer space to UNSC

Proposal for a UNSC resolution will take into account the results of the discussion of the US-Japanese document, as well as the progress on this subject, Russian Foreign Ministry Spokeswoman Maria Zakharova said

US shifted conflict in Europe onto EU, NATO shoulders to weaken Russia, says Lukashenko

The Belarusian leader specified that the US had organized the conflict in Europe, in this case in Ukraine, and "shifted it onto the shoulders of the European Union and NATO, promising to help with money"

Russia exports record volume of barley and wheat to China since agricultural season start

Since the beginning of the current agricultural season and to April 2024, wheat supplies from Russia to China totaled 220,000 tons, which is also a record for the history of Russian exports

Russian pipeline gas supplies to Europe add a quarter in winter — IEA

The share of Russian pipeline gas in the total European gas demand in winter nevertheless remained less than 10%, the International Energy Agency noted

Over 260 agreements signed at Innoprom. Central Asia exhibition in Tashkent

Earlier reports said that more than 400 companies from 27 countries took place in the event

Top brass posts video of Leopard tanks, Bradley combat vehicles seized by Russian troops

The video shows Russian troops examining the enemy tanks and infantry fighting vehicles seized in battles

US effectively dooms Ukraine by its new decisions, Russian envoy says

"The American aid won’t save Zelensky. New weapons will be destroyed, and the special military operation goals will be achieved," Anatoly Antonov stressed

Houthis attack two commercial ships, US destroyer — statement

Simultaneously, the Air Force conducted two more military operation using a huge number of drones to target a US destroyer in the Gulf of Aden

Russian diplomat thanks Tajik authorities for help in probe into Crocus terrorist attack

The sides also exchanged views on the progress in the implementation of large-scale tasks set by the heads of the two states and heads of government along the political, trade, economic and migration trajectories, the implementation of projects on the cultural and humanitarian fronts

US waging hybrid war against Serbs to snuff them out for good — Republika Srpska head

"Republika Srpska comes under direct pressure and under constant US sanctions; and we are looking for ways to solve this problem," Milorad Dodik said

Ukraine exhausted, needs constant money flow from outside — defense official

Apty Alaudinov added that if the Ukrainian army received long-range weapons, it might try to attack Russia's civilian infrastructure due to its powerlessness on the front

US will have to take Russia into account and find common ground with it — Putin

Russian President said in an interview with Rossiya-1 TV channel journalist Pavel Zarubin

Network of international conspirators plotted Crocus terrorist attack — watchdog

Yury Chikhanchin pointed out that the perpetrators of the attack were provided with money, weapons, transportation and ammunition

Attempts are made to turn Moldova into ‘second Ukraine’, Lavrov warns

The Russian foreign minister also said that Chisinau's behavior resembles role-playing

Russia maintains position on 'buffer zone' in Ukraine to counter missile threats

Dmitry Peskov added that the issue of fighting against long-range weapons being supplied to Ukraine and potential strikes on the areas where they are concentrated "is rather under the purview of <…> the armed forces"

US incapable of replicating Cold War-era arms race — Valdai club expert

According to Dmitry Stefanovich, in order to prevent a new unbridled arms race, it is necessary to work on strategic stability as well as the sphere of arms control

Russian Economy Ministry keeps fixed capital investments estimate at 2.3%

According to the ministry, fixed capital investments will accelerate in their growth to 2.7% in 2025

Russia has significant amount of West’s funds in case of confiscation of its assets

Russia views the West’s encroachment on its assets as "a blatant and shameless theft for the purpose of lining its pockets," Maria Zakharova noted

Global community changing tune about how Ukraine conflict started — security official

According to Nikolay Patrushev, these countries "understand perfectly well who is financing" the Kiev regime

US recruiting IS jihadists for terrorist attacks in Russia and CIS, says intel agency

The SVR stressed that the US was planning to send terrorists in small groups

Ukraine’s EU accession to require 20% increase in union’s budget — European Commissioner

Johannes Hahn made it plain that he does not expect Ukraine to join the EU any time soon, noting that entry before 2028, when the next seven-year budget plan kicks in, is "unrealistic"

Russian tourists flock to North Korea — embassy

"Today, under the two countries’ leaders’ special attention, political contacts, exchanges, cooperation in the economic, culture, science and other areas are developing with renewed momentum," Minister Plenipotentiary of the republic's embassy in Russia Lee Yong Zin said

Ukraine says Western systems ineffective against Russia's electronic warfare

Maria Berlinskaya emphasized that the real effectiveness was determined in real combat conditions, and not at "some training ground in Texas"

Ukrainian troops in Kharkov Region lift antennas with kites to get better signal

Military expert Andrey Marochko speculated that the Ukrainian army had to resort to this tactic because the TV tower in Kharkov was damaged

Niger would like Russia to train its troops — interior minister says

Mohamed Toumba noted that the training of troops could help in the fight against terrorism

Ukrainian forces refuse to obey Commander-in-Chief Syrsky — CIA ex-analyst

Larry Johnson also noted that the Russian forces manage to advance recently despite the slush on the roads

Polyus, Polymetal to explore deposit in Khabarovsk Region

"The final configuration of shares in the joint venture will depend on exploration findings," a spokesman of Polymetal pointed out

Press review: NATO flexes muscles near Russian border and South China Sea runs hot

Top stories from the Russian press on Wednesday, April 24th

US draft on nukes in space seeks to go beyond legal framework Russia adheres to — MFA

Maria Zakharova pointed out that Russia reaffirms its "strict commitment" to the international legal obligations under space law

Drone crashes in industrial zone in Russian city of Lipetsk

There were no casualties, egional Governor Igor Artamonov said

US State Department confirms secret shipments of long-range ATACMS missiles to Kiev

Joe Biden directed to send ATACMS to Ukraine in February, the Principal Deputy Spokesperson for the US Department of State Vedant Patel said

ATACMS shipment proves ‘Zelensky’s formula’ needed in US as ‘smoke and mirrors’ — diplomat

"Washington’s plan is sickeningly simple, as it means dragging everyone under the pretext of ‘peace intentions’ to an empty gathering, while bolstering Zelensky’s terrorist potential," Maria Zakharova said

Russian court blocks JPMorgan’s funds in VTB lawsuit

The court also blocked any securities held by JPMorgan’s entities in Russia

EU may sanction 10 firms for allegedly shipping weapons tech to Russia — Bloomberg

According to the agency, the companies being assessed for potential sanctions are based outside Russia but have links to Russian and Belarussian individuals and firms

Russia presents world’s first hydrogen-fueled luxury car at Innoprom exhibition

The unique vehicle was built on the basis of the Aurus Senat luxury car

Moscow shooter identified as European boxing champion Nikita Ivanov

This was reported by a representative of law enforcement agencies

Kremlin vows legal action against US bill on seizing Russian assets

Dmitry Peskov noted that the trial will be "very complex," but will cause severe damage to US economic interests if the US authorities finally approve the bill regarding Russian assets

Top Russian, Iranian security officials discuss Middle East

"The parties exchanged views on the situation in the Middle East, confirming their interest in preventing further escalation of tensions," the Russian Security Council reported

Inflation in Russia down to 0.08% over week — statistics

Consumer prices in the country ticked up by 0.37% from early April and by 2.33% year to date

Damascus seriously mulls joining BRICS — Syrian envoy to Russia

"The idea to join BRICS+ is on our agenda," Bashar Jaafari added

Ukrainian army short about 150,000-200,000 troops, says Polish general

Waldemar Skrzypczak also said it was "a matter of hours" until Kiev received the weapons allocated by the US as part of its latest military aid package

West’s unwillingness to give up hegemony escalates tensions in world — security official

According to Nikolay Patrushev, this creates conditions for the devaluation of international law and its institutions and the erosion of the UN's central role in resolving global and regional conflicts

Throughput capacity of Baikal-Amur Mainline surging threefold in twelve years

Shipments over the Eastern Range uniting BAM and the Trans-Siberian railroad is to reach 270 mln metric tons per year over the ten-year period, the head of state said

IN BRIEF: Russian deputy defense minister, entrepreneur arrested for taking bribes

According to the investigation, Timur Ivanov and Sergey Borodin "criminally conspired with third parties" in order to receive a bribe "as providing monetized services when conducting contracted and subcontracted work" for the Defense Ministry

Russian troops wipe out Ukrainian UAV production workshop over past day

The Russian forces improved their frontline positions and inflicted casualties on five Ukrainian army brigades in the Donetsk area over the past day, the Defense Ministry reported

No response from West to killing of Izvestia war reporter Eremin — diplomat

The Russian war correspondent died of wounds suffered from a strike by a Ukrainian FPV drone on April 19

Russia discourages use of UN sanctions for interference in African affairs — envoy

Vasily Nebenzya underscored that Russia continues to "make an important contribution to strengthening of African countries’ potential, including UN Security Council and General Assembly"

UNSC rejects amendment by Russia, China to resolution on nuclear weapons in outer space

The amendment gained seven votes from countries including Russia and China

First regiment of S-500 air defense systems to defend Moscow — source

The S-500 will replace the S-400 Triumph air defense system

Annual inflation in Russia gearing down to 7.82% over week — Economy Ministry

"Inflation in the consumer market slowed down to 0.08% over the week from April 16 to 22, 2024," the ministry informed

Musk concurs that civil war looming in West

The US businessman commented on remarks by Gad Saad, a Canadian professor of Lebanese origin, who insisted that "the path that the West is taking will result in civil war"

Kremlin vows to resolve situation with Turkish Airlines refusing service to Russians

Russia has "very constructive and friendly relations" with Turkey, Dmitry Peskov stressed

Central African Republic expects Russia to supply weapons, munitions — defense minister

According to CAR Defense Minister Claude Rameaux Bireau, all necessary documents are ready but there are certain logistical difficulties

Tour bookings for Russia’s May holidays increase by 30-40%

"About 3 mln of Russians will travel around the country, of which somewhere between 800-900,000 will travel with the help of tour operators," the Vice President of the Russian Union of Travel Industry said

Switzerland unblocks Russia-related assets worth 290 mln Swiss francs

The total amount of blocked assets of the Russian Federation decreased by 150 million Swiss francs (about $165 million) due to the fact that a number of individuals "were removed from the EU sanctions lists"

Russian defense minister dismisses his deputy Ivanov

Timur Ivanov was removed from the office of deputy defense minister of the Russian Federation of the federal government’s civil service

Russia tasked with 'building new world' — Putin

Speaking at a plenary session of the Valdai Discussion Club, the Russian leader also highlighted "the role and responsibility" of its members

Nearly 70 Israeli hostages killed in Gaza, Hamas says

A day earlier, Abu Ubaidah, a spokesman for the Hamas' Izz ad-Din al-Qassam military wing, threatened that hostages held in the Gaza Strip could repeat the fate of Israeli pilot Ron Arad, who was kidnapped 36 years ago

Ukraine’s draft dodger makes attempt to cross Dniester into Moldova on air mattress

Men of conscription age try to leave the country in every possible way, often putting their lives at risk

Dollar almost completely gone from Russia-China trade relations — Lavrov

"The supply of our agricultural products to the Chinese market is growing," the top Russian diplomat noted

Oil exports via CPC total 21.1 mln tons year-to-date

"All Shippers’ nominations were fulfilled on a timely basis and in full," the statement reads

Russia’s victory in Ukraine to change course of history in Europe — von der Leyen

Ukraine "is carrying a heavy burden" for the benefit of the EU, and therefore EU member states must "provide Ukraine with means to defend themselves," European Commission president said

Russia dissatisfied with UN’s activity under grain deal — senior diplomat

Alexander Pankin noted that during his visit to New York he did not have any talks with UN officials on the Russian-UN memorandum

North Korean film shown in Moscow to mark anniversary of Putin-Kim meeting

Minister Plenipotentiary of the North Korean Embassy in Russia Lee Yeong Jin emphasized that "today's screening will contribute to further intensifying cultural exchanges, deepening mutual understanding and friendly relations between the peoples of North Korea and Russia"

US has no idea what to do about Zelensky — Seymour Hersh

According to the journalist, the decision to conduct the operation was made by US President Joe Biden personally, following nine months of discussions with White House national security advisers

Senior Russian, Tajikistani diplomats talk about fighting terrorists, radicals

Russian Deputy Foreign Minister Alexander Grushko emphasized the importance of creating a new architecture of Eurasian security as one of the elements of a multipolar world

Armenia’s decision on CSTO membership its sovereign choice — secretary general

Commenting on the possibility of a confrontation between Armenia and the CSTO amid Yerevan’s remarks on its aspiration to leave the organization and get closer with NATO, Imangali Tasmagambetov noted that such a scenario is "merely hypothetical"

Russia vetoes US-backed UNSC resolution on banning nuclear weapons in outer space

The resolution gained 13 votes

Russian children’s commissioner holds first face-to-face talks with Ukrainian counterparts

Maria Lvova-Belova thanked Qatar for setting up a venue for dialogue between Russia and Ukraine regarding children’s interests

Russia ready to cooperate with all interested partners to ensure security — Putin

The Russian leader expressed confidence that the the 12th International Meeting of High Representatives for Security Issues "will bolster cooperation for the mutual benefit of our countries and peoples"

Dust from Sahara turns rain in Ukraine yellow

According to the agency, dust from the Sahara will be observed in Ukraine for two more days on April 25 and 26

Post-Soviet security bloc holds arms control consultations in Moscow

The participants in the consultations "stressed the importance of stepping up efforts to prevent further erosion of the relevant international legal framework"

Putin proclaims Odessa Russian city, challenges Ukraine's historical narrative

At the same time, the president noted that once upon a time "Vladimir Lenin gave away the whole of Ukraine when he created the Soviet Union"

Russia, Africa united by common vision on global issues — senior diplomat

Mikhail Bogdanov noted that "the African continent is a dynamically developing part of the world with an enormous growth potential, attractive domestic market and expanding export prospects"

Radicals, intel services behind terror attacks in various countries, says Putin

The tactics employed by these criminals are becoming increasingly complex and barbaric, the Russian leader pointed out

Russian Navy’s Bastion missile systems practice massive strike in Baltic drills

The Bastion coastal defense missile system is designated to defend the coastline over 600 km long

Press review: Dissecting US aid package to Ukraine and sands of global economy shifting

Top stories from the Russian press on Monday, April 22nd

West battlegroup destroys two Ukrainian drones, hit over 170 Ukrainian army’s facilities

The battlegroup’s spokesman Ivan Bigma said that a Gvozdika self-propelled system, nine mortar squads, two Furiya fixed-wing type unmanned aerial vehicles were destroyed

US arms supplies unable to change situation in Kiev's favor — Kremlin

Dmitry Peskov pointed out that a year ago the opponents "were telling everyone that they were waiting for the moment Russia would be defeated on the battlefield"

NATO has no plans to deploy nuclear forces in Poland — Stoltenberg

NATO Secretary General did not immediately understand the reporter’s question, forcing the reporter to explain that they were referring to the idea of deploying nuclear weapons in Poland

US stops hiding true purpose of sanctions on Moscow, Russian envoy says

"It’s not about any mythical aspirations to resolve the conflict in Ukraine, but about banal opportunistic and predatory ambitions," Anatoly Antonov said

Ukraine could send special forces to capture Zaporozhye NPP — politician

According to Vladimir Rogov, the Ukrainian troops are holding drills to cross the Dnieper from the right bank to the left bank and capture a large industrial site

West balancing on edge of direct military confrontation between nuclear powers — Lavrov

According to the top Russian diplomat, it is especially concerning that the three Western nuclear powers are among the key sponsors of the Kiev regime and the main initiators of various inflammatory moves

Gagauzia against Chisinau’s policy of severing ties with Russia

According to Yevgenia Gutsul, Gagauzia has never experienced such pressure from Chisinau

Putin informed about detention of Deputy Defense Minister Ivanov

Minister Sergey Shoigu was also informed beforehand, Russian Presidential Spokesman Dmitry Peskov said

Russian court arrests in absentia four foreign agents charged with terrorism

"The court has selected a measure of restraint for Garry Kasparov, Gennady Gudkov, Yevgenia Chirikova and Ivan Tyutrin, charged with establishing and heading a terrorist society, funding terrorist activity and justifying it publicly," the court said

13 violations by US-led international coalition’s aircraft recorded in Syria

According to Major General Yury Popov, nine violations of the deconfliction protocols of December 9, 2019

Russian athletes have right to decide on Olympic participation — aide

Russian and Belarusian athletes will be able to compete only under a neutral status, provided that they are not associated with security agencies and do not represent team sports

Top Russian security official meets with counterparts at international security meeting

Nikolay Patrushev met with the heads of delegations from BRICS states

US military aid for Kiev cannot stop Russian army’s advance — North Korean diplomat

The US Congress House of Representatives earlier passed bills on military aid to Ukraine, Israel and Taiwan

Ukrainian army strikes own surrendering soldiers — POW

Andrey Babenko said that after a crash course in Britain he had been sent to the frontline near Liman