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

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

Bank of Russia identifies main risks for its baseline forecast

Among them are continued elevated inflation expectations, widening budget deficits, rising geopolitical tensions and increased volatility in financial markets

MOSCOW, November 7. /TASS/. The Bank of Russia has identified the main risks to its baseline forecast, according to the regulator's report.

These include persistently high inflation expectations, growing budget deficits, rising geopolitical tensions, and increased financial market volatility.

According to the Bank of Russia, pro-inflationary risks remain high in the medium term, which means that inflationary expectations of companies and people will also remain high and may even grow further. "In this case, lending will continue to grow at a rapid pace, while the population's propensity to save will decrease. As a result, domestic demand will continue to outstrip supply expansion opportunities, adding to long-term inflationary pressures in the economy," the regulator said.

In addition, the Bank of Russia estimates that in conditions of limited available labor resources, labor productivity growth may continue to lag behind real wage growth.

Another pro-inflationary risk is further fiscal easing. "In the event of a further widening of the budget deficit, pro-inflationary risks will increase again, and tighter monetary policy may be needed to bring inflation back to the target in 2024 and to keep it close to 4% thereafter," the report said.

Rising geopolitical tensions could also have an impact on foreign trade. "Tighter foreign trade and financial restrictions may reduce demand for Russian exports and have a pro-inflationary impact through exchange rate dynamics. In addition, the increased complexity of production and supply chains and financial settlements as a result of external restrictions may lead to higher import prices," the regulator said.

Risks also include worsening global economic growth forecasts and greater volatility in global financial markets. As a result, these variables may cause the ruble to depreciate, which would have pro-inflationary effects on the Russian economy in the short term, the Bank of Russia said.

On the other hand, the Bank of Russia identified a faster slowdown in domestic demand growth than projected in the baseline scenario as one of the disinflationary risks. "This could lead to a faster slowdown in lending and, consequently, to more pronounced disinflationary processes in the economy," the report said.

According to the watchdog, an increase in the price of Russia's key export items or a growing physical volume of export supplies could have a disinflationary effect by strengthening the ruble's exchange rate.

Use of cryptocurrencies as a means of payment in Russia is not yet possible — Sberbank CEO

Herman Gref also stressed that the new legislation allows the use of digital currencies, cryptocurrencies for international payments, but as for the digital ruble, other countries need to be ready to accept it

West attempted to prevent Russia-Africa ministerial meeting, diplomat says

African countries realized that "this pressure contradicts their own national interests", Russian Deputy Foreign Minister Mikhail Bogdanov said

Russia’s Rubikon unmanned technology center team destroys Ukrainian armor in Kursk area

"The video shows a team of the Russian Defense Ministry’s Testing Center of Advanced Unmanned Technologies destroying Ukrainian armor by an FPV drone in the Kursk area," the ministry said

Ukrainian forces ready to withdraw from Kurakhovo, but no order yet — serviceman

According to the report, the Russian army is "attacking from three sides"

Trump may be set to change US course on global conflicts, Russian envoy believes

Alexander Lavrentyev also pointed to the potential withdrawal of US troops from Syria

Russian lower house passes third reading of bill banning child-free propaganda

The legislation stipulates preventing the distribution of information promoting voluntary childlessness online, through the media, movies and advertisements

Musk doubles down on his opinion about 'endless war' in Ukraine

Earlier, the entrepreneur opined that the bloodshed in Ukraine would end soon

Ukraine imposes sanctions on maintenance services of two Moscow airports

The decree, which lists a total of 63 legal entities, sets the restrictions for a period of 10 years

Amount of Russian assets frozen in Switzerland unchanged since August — agency

"The total amount of the Russian central bank’s assets immobilized in Switzerland is CHF 7.24 billion," said a spokeswoman for the Swiss State Secretariat for Economic Affairs

Extension of conflict not in Ukraine’s interest — analyst

According to Sean Bell, the West provided a "huge amount" of weapons to Ukraine, but that didn’t help the government in Kiev

Ukraine retreating fast, delaying peace to result in lost territories — entrepreneur

"The simplest path to peace in Ukraine is to go back to the draft deal signed in Istanbul," David Sacks said

Police say Russian-made drone without explosives fell down in Moldovan territory

On the same day, the Moldovan foreign ministry accused Russia of violating its air boundaries, slamming this incident as an "unfriendly step"

Trump appoints Florida Rep. Mike Waltz National Security Advisor

A retired Army National Guard officer and war veteran, Mike Waltz is "a nationally recognized leader in National Security," Donald Trump said

Lukashenko calls for support to developing nations in accessing green technologies

The Belarusian leader emphasized that global action to combat climate change requires a united international effort in practice

Top Russian security official hails strategic cooperation with China

Sergey Shoigu noted that Russia-China ties were based on the principles of mutual respect, equality, trust, non-interference in each other’s domestic affairs and support for each other on the issues that the parties found important

Kiev should sign peace treaty, but this will spell end of grift for many, billionaire says

"The longer the war goes on, the more territory Ukraine will lose," David Sacks added

Freezing conflict will only allow Ukraine to rearm itself, fight Russia anew, says expert

Ruslan Kalinchuk noted that Russia "will not negotiate on Donbass and Novorossia," while Vladimir Zelensky will not do any deals unless Russia makes concessions because "he would immediately be ousted in such an event"

German president approves date for snap parliamentary election

"Based on a current assessment," Steinmeier "considered February 23 as a realistic date for new elections," a presidential spokeswoman told journalists

Russian forces destroy Ukrainian Stryker armored vehicle in Kharkov Region

The strike’s accuracy and efficiency were confirmed by data-recording equipment in real time

Russia, China sign cooperation memorandum — Xinhua

According to the article, Presidential Aide Dmitry Mironov led the Russian delegation, while China was represented by a Politburo member, Head of the CCP Organization Department Li Ganjie

Russia for the first time displays Su-57 jet at China show

Su-57 multirole fifth-generation fighter jet was designed to destroy all air, ground, and water surface targets, monitor the airspace at major distances from deployment bases, make adversary headquarters, command posts and control systems inoperative

Russian engine maker unveils cutting-edge aircraft engine

"The state-of-the-art 177S engine for tactical aircraft boasts improved characteristics and is of the fifth generation class," the press service said

Russian troops secure supply route to Plekhovo in Kursk Region — commander

It is reported that fighting in the settlement itself is taking place at the moment

Ukrainian General Staff reports difficult situation along entire frontline

It also acknowledged the supremacy of the Russian army in equipment and personnel

Russia demonstrates Il-76MD-90A(E) airlifter to 11 foreign customers this year

The latest modification is distinguished by new equipment, including a glass cockpit, modern PS-90A-76 engines, a modified wing and reinforced chassis

Talks between Putin, Trump before inauguration possible — Kremlin

The United States Presidential Inauguration will be held on January 20, 2025

Russian PM to attend UN Climate Change Conference in Baku

The greater part of Mikhail Mishustin’s visit will be devoted to Russian-Azerbaijani ties

Russian advances, Ukrainian losses: situation in Kursk Region

Units of Russia’s Battlegroup North have continued their offensive, defeating Ukrainian formations near several settlements in the Kursk Region

Over 1,000 dead seals found on Caspian coast in Kazakhstan

Director of the Institute of Hydrobiology and Ecology Mirgaliy Baimukanov noted that traces of injuries were found on some of the dead seals, but, according to the specialist, this is not enough to determine a cause of death

Moldova expresses displeasure about Georgian prime minister’s comments

Earlier, Georgian Prime Minister Irakli Kobakhidze told reporters "gross violations" were committed during the presidential election in Moldova, but the country’s authorities were not investigating them

Japan remains ready to sign peace treaty with Russia — top diplomat

After Tokyo imposed anti-Russian sanctions over the situation in Ukraine, Russia halted consultations with Japan on a peace treaty

US intelligence agencies must prevent new attempts on Trump’s life — Kremlin aide

Trump survived two assassination attempts this year, one during a campaign rally in Pennsylvania in July, when a sniper shot at him, grazing his ear, and a second in September, when a radical supporter of aid to Ukraine opened fire near Trump’s Mar-o-Lago residence in Florida

Two US military bases in Syria come under missiles attacks — TV

According to tAl Mayadeen, at least two attacks targeted a military facility near the Conico gas field in the Deir ez-Zor governorate in a span of one hour

Medvedev characterizes Great Britain as eternal adversary of Russia

"At least until such time as their arrogant, despicably dank island sinks into the abyss of the sea from a wave triggered by a cutting-edge Russian weapons system," the politician said

Ukraine’s troops south of Kurakhovo caught in pincers — military sources

Small groups of Ukrainian soldiers have been trying to leave the communities, but all roads are under the Russian army’s fire

Russia to open embassies in several African countries — MFA

In some African states, such as South Sudan, for example, the Russian side reached an agreement at some point to open an embassy, though "it has not been done for a variety of reasons," Mikhail Bogdanov noted

More countries understand reasons for conflict in Ukraine didn’t arise overnight — Lavrov

Russia’s top diplomat pointed to many years of efforts in Ukraine to eradicate the Russian language in education, news media and culture, and to the recent law that bans the canonical Ukrainian Orthodox Church

US State Department insists DPRK troops engaged in Russia’s borderline Kursk Region

Patel also insisted that "Russian forces have trained the DPRK soldiers in artillery, in UAV, and basic infantry operations, including trench clearing, which are critical skills for frontline operations"

Russian emergencies chief visits Cuba

The Russian Embassy in Cuba said on its Telegram channel that "the visit aims to strengthen Russian-Cuban cooperation in the sphere of alleviating the aftermath of natural disasters"

Climate policy should be based on common sense, not ideology — Orban

The Hungarian prime minister noted that the problem of climate preservation held a prominent place in the Budapest Declaration on the New European Competitiveness

US military strikes car carrying Houthi rebel leaders — TV

According to the source, the US also carried out strikes at Houthi military targets in this area

Combat experience distinguishes Su-57 among fifth-generation fighters

The Russian Defense Ministry said it excellently performed in combat

Ukrainians play 'radio games' with Russian recon to spread disinfo on attacks — LPR expert

It is reported that Ukrainian fighters have recently been sending false signals about an impending offensive or strikes allegedly being planned on unconfirmed targets

Russia has written off $20 bln worth of African debts — MFA

Mikhail Bogdanov added that it allows using those debts "to implement socio-economic projects directly in the country"

Russia to push for release of hostages held by Hamas, senior diplomat says

"We originally had one Russian citizen and there is also a Donbass resident," Mikhail Bogdanov noted

Lavrov to lead Russia’s delegation to G20 summit in Brazil

Russian President Vladimir Putin said at a meeting with heads of BRICS media outlets that he will not be attending the G20 summit in Brazil, scheduled for November 18 and 19

Russia, China reach historic level of economic cooperation — lawmaker

"New ventures are being launched, and exciting projects, including interregional ones, are being implemented," Nikolay Zhuravlev noted

22 international flights canceled due to Bali volcano eruption

The eruption of Mount Lewotobi began on November 4

Trump to reverse Biden’s executive orders in first week in office — press secretary

According to Karoline Leavitt, the 94 executive orders that Joe Biden signed in his first week in office led "to a border crisis and the economic crisis"

Ukraine offers up to 750,000 dollars to Russian pilot for hijacking helicopter — TV

The correspondent also reported that the Ukrainian intelligence officer obtained the phone number of the pilot's wife and persuaded her to leave Russia before the helicopter was hijacked

Thailand receives invitation to become BRICS partner country — diplomatic source

The BRICS group was founded in 2006 by Brazil, Russia, India, and China, with South Africa joining it in 2011

Breakthrough near Krasnoarmeysk could enable Russian push toward the Dnieper — expert

Markus Reisner noted that many of the Ukrainian units on this section of the frontline are understaffed by 50%

US plans to remove 'arrogant' Zelensky and stage 2025 elections in Ukraine — SVR

"At the initial stage, it is planned to encourage entities within the Ukrainian civil society under their control, through US 'democratization' foundations and think tanks, to come up with a corresponding initiative," the statement reads

US delivers strikes on infrastructure of pro-Iranian militants in Syria — CENTCOM

According to the statement, the "strikes were in response to a rocket attack on US personnel at Patrol Base Shaddadi"

Musk helping Trump choose top officials — media

According to the source, Donald Trump is tapping the best and brightest people to work with him, and he will encourage them to speak their mind

Russia set to deepen cooperation with China in law enforcement — top security official

Russia is seeking to consolidate efforts toward fighting extremism, terrorism and transnational crime both bilaterally and multilaterally, Sergey Shoigu specified

Houthis say they attacked US aircraft carrier in Arabian Sea

According to the movement’s military spokesperson, the Houthis place responsibility for "turning the Red Sea into a zone of military tension" and the impact on navigation in the area on Washington and London

Russian Security Council secretary meets with senior Chinese official

The meeting involves consultations on security, justice and public order

DPR head Pushilin visits Ugledar, says town badly destroyed

Denis Pushilin added that "it is almost impossible to find an undamaged building"

Africa goes through second 'awakening,' now from neocolonial oppression — Lavrov

"Africa no longer agrees to remain a source of raw materials that are bought and exported mainly to the West," he said

Russia says Su-35S fighter jets provide cover to bombers, attack aircraft in Kursk Region

Also, one aircraft used onboard weapons systems to detect enemy air defense sites, according to the ministry

Russian forces steadily advance on Boguslav direction — Belousov

The Russian Defense Minister congratulated the command and the personnel of the 153rd Armored Regiment with the liberation of the settlement of Kolesnikovka

Detentions, blocking of roads: what is known about situation in Abkhazia

The prosecutor general stated that following the incident, four Abkhazian residents were detained: Garry Kokaya, Almaskhan Ardzinba, Omar Smur, and Ramaz Dzhopya

Countries will line up for Russian gas when US stops exporting LNG — Serbian president

According to Aleksandar Vucic, Washington will use LNG "for the growing consumption of artificial intelligence, electric charging stations and everything else"

Russia keeps building defense capacity despite conflict in Ukraine — Polish general

According to Wieslaw Kukula, if the conflict in Ukraine ends soon, Russia will be able to build up its defense capacity to the point that it could take on all of NATO

Russian forces strike Ukrainian military airfields, energy sites over past day

It is reported that the Ukrainian army’s losses in that frontline area over the past 24 hours amounted to 765 personnel, an armored personnel carrier, a motor vehicle and two 122mm D-30 howitzers

54 countries vote against resolution on combating ne-Nazism

116 countries, including Azerbaijan, Algeria, Armenia, Belarus, Bolivia, Brazil, China, Cuba, Serbia, and Syria, supported the document

FSB foils attempted terrorist attack on power station in Nizhny Tagil

It was revealed that the detainee had materials for producing an improvised explosive device and had been communicating with Ukrainian security services via Telegram

Mi-171A3 helicopter draws interest from partners in China — Russian Helicopters

The helicopter can fly in harsh conditions, particularly those inside the Arctic Circle, where satellite communication coverage is poor

Italian producer announces two collaborative projects with Russia

An attempt at cultural isolation of Russia has not borne fruit, Paolo Maria Spina said

Defense enterprises in Ukraine hiding their employees from mobilization

The Ukrainian government has suspended a number of provisions that protect employees at vitally important enterprises from being called up to the army

Ukraine admits to mismanagement of military personnel

Maria Berlinskaya recounted how Ukraine’s army received tens of thousands of people, including "the smartest managers, the smartest economists, and very good businessmen, for free"

Medvedev suggests that Elon Musk launch campaign to amend US Constitution

Article II of the US Constitution stipulates that: "No Person except a natural born Citizen, or a Citizen of the United States, at the time of the Adoption of this Constitution, shall be eligible to the Office of President"

Russian senator slams candidate for German chancellorship’s remarks as irresponsible

Konstantin Kosachev also emphasized that talking to Russia in the language of ultimatums "is not only counterproductive, but also short-sighted, especially for Germany"

Ukrainian losses, Sudzhansky district head retirement: situation in Kursk Region

Units of the battlegroup continued offensive operations, defeating Ukrainian formations in the areas of the settlements of Daryino, Leonidovo, Malaya Loknya, Nikolayevo-Daryino and Novoivanovka

Medvedev warns that EU behavior in struggle with Russia fraught with 'bad scenario'

According to the Russian Security Council Deputy Chairman, European leaders are experiencing "autumn blues" after Donald Trump's victory in the US presidential election

African countries interested in joining work in BRICS format — Russian MFA

The first ministerial conference of the Russia-Africa Partnership Forum was held on November 9-10 in the Sirius Federal Territory on Russia’s Black Sea coast

Group plotting violent coup detained in Kyrgyzstan — interior ministry

According to investigators, the suspects, using a national sports match as a cover, planned "to call for violence, advance anti-constitutional demands, and destabilize the situation"

Russia supports Mali's appeal to UN Security Council on Kiev's actions — MFA

In August, Burkina Faso, Mali and Niger sent a letter to the chairman of the UN Security Council condemning Ukraine's open support of international terrorism, particularly in the Sahel region

Hezbollah says it attacked Israeli airbases near Haifa, Tel Aviv

According to the statement, Hezbollah units also delivered a missile strike on Israel’s Tel Nof airbase located 27 kilometers south of Tel Aviv

Hezbollah reports over 100 Israeli troops eliminated in south Lebanon since October 1

According to the Lebanon-based Shiite party, 1 000 more were wounded

First S-550 air defense systems enter service in Russia — source

The source described the new system as "an absolutely new and unrivalled mobile system of strategic missile defense"

Ukraine issue gets more attention at UN after Trump’s election win — Russian diplomat

"People started actively commenting behind the scenes, making forecasts about where things could go now," Dmitry Polyansky noted

Ukraine aims to call up 1 mln people in eastern areas by end of 2024 — official

According to the plan, 360,000 people are to be mobilized in October; 325,000 and 300,000 in November and December, respectively

France to hand over six Mirage 2000-5 jets to Ukraine — lawmaker

Frank Giletti asked to speed up the commissioning of previously ordered Rafale planes to the armed forces

Israel reports eliminating most of Hezbollah arms production sites near Beirut

The statement noted that "over the years, the Intelligence Directorate has developed a situational assessment of the locations of Hezbollah terror infrastructure in the area"

Trump to rely on forces that brought him to power — Russian presidential aide

Nikolay Patrushev agreed that Trump, when he was still a candidate, "made many statements critical of the destructive foreign and domestic policies pursued by the current administration"

China puts army on alert in South China Sea

On November 10, China’s Ministry of Foreign Affairs lodged a protest with the Philippines after Manila implemented a maritime law asserting its exclusive right to tap resources in a 370-kilometer zone off the country’s coast

FACTBOX: What we know about night-time drone attacks on Russian regions

Overnight, 29 Ukrainian fixed-wing drones were destroyed in the skies over the Kursk, Belgorod, Tver, Bryansk, Penza, and Voronezh regions, the Defense Ministry said

Some 300 Germans eager to move to Russia’s Nizhny Novgorod Region — authorities

Among those who are ready to move are technical professionals in the metalworking industry

Czech intelligence warns of crime surge after Ukraine conflict ends

More than 380,000 people, mostly women and children, have fled Ukraine to the Czech Republic since February 24, 2022

Dagestani deminer holds stronghold on his own for several weeks

According to the statement the enemy shelled Zakaria Aliyev almost daily but the Dagestani man’s spirit "turned out to be stronger than any weapon"

Russia supports new UNSC draft resolution on Gaza — envoy

Russian Permanent Representative to the United Nations Vasily Nebenzya noted that Resolution 2735 was only a tool to gain time for Israel

Trump to end NATO’s obsession to get on Russian territory — White House ex-strategist

Steve Bannon noted that Trump’s MAGA (Make America Great Again) movement seeks to completely cut funding to Ukraine. According to Bannon, Europe, including Italy, will follow Trump’s lead, and, if "they [Europe and Italy] truly believe what they have been saying in recent years, they should be ready to pay"

Russia’s Su-57 fifth-generation fighter debuts at Airshow China

Earlier, Sergey Chemezov, CEO of Russia’s state tech corporation Rostec, stated that the Su-57 is the only fifth-generation aircraft globally that has demonstrated its exceptional performance characteristics in all combat scenarios

US to continue arms supplies to Israel — news portal

According to Axios, "some of Blinken's senior aides and senior White House officials thought the ultimatum was effective and pushed Israel to change course"

Houthis attack two US destroyers — Pentagon

Earlier, the Houthi movement’s military spokesman Yahya Saree said that the rebels had delivered rocket and drone strikes on the aircraft carrier USS Abraham Lincoln in the Arabian Sea

Press review: UK and French leaders discuss Ukraine as the dollar continues to climb

Top stories from the Russian press on Tuesday, November 12th

Press review: Russia, Belarus finalize security deal as China readies for Trump’s new term

Top stories from the Russian press on Monday, November 11th

China-Russia relations reach highest level in history, senior official says

Chen Wenqing stressed that the two countries always adhere to the principles of mutual respect, equality, and mutually beneficial cooperation, strengthening mutual political and strategic trust

US hegemony ambitions led to global problems starting with Belgrade bombings — lawmaker

According to Vyacheslav Volodin, "it is very important to objectively assess the events that took place 25 years ago"