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

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

Bank of Russia worsens forecast for key rate for 2024 to 13.5-15.5%

The regulator also indicated that it is too early to judge the sustainability of the emerging disinflationary trends

MOSCOW, February 16. /TASS/. The Bank of Russia increased the forecast for the average key rate for 2024 from 12.5-14.5% to 13.5-15.5%, the regulator said in its report on Friday.

The Bank of Russia expects the average key rate in 2025 to reach 8-10%, while the earlier forecast was around 7-9%. The regulator kept the forecast for 2026 at 6-7%.

The regulator also notes that taking into account the fact that from January 1 to February 18, 2024, the average key rate is 16%, from February 19 to the end of 2024, the average key rate is projected to be in the range of 13.2-15.5%.

Earlier on Friday the Bank of Russia decided to maintain the key rate at 16% per annum at its first meeting in 2024, indicating that it is too early to judge the sustainability of the emerging disinflationary trends. "On 16 February 2024, the Bank of Russia Board of Directors decided to keep the key rate at 16.00% per annum. Current inflationary pressures have eased compared with the autumn months but remain high. Domestic demand is still outstripping the capabilities to expand the production of goods and services. A judgement on the sustainable nature of emerging disinflationary trends would be premature. The Bank of Russia’s monetary policy is set to solidify disinflation processes unfolding in the national economy," the regulator said.

At the same time, the Bank of Russia raised its forecast for the average key rate for 2024 from 12.5-14.5% to 13.5-15.5%. In 2025, the rate is expected to be 8-10%, against the previous forecast of 7-9%, the forecast for 2026 reached 6-7%.

The Bank of Russia will hold its next key rate review meeting on March 22, 2024.

Tags

Central Bank of Russia

Vladimir Putin's visit to China

Putin to visit Harbin on second day of visit to China

During his visit to the administrative center of China’s northernmost Heilongjiang province, the russian president will be accompanied by Chinese Vice President Han Zheng

Patriot supplies unlikely to impact Russia’s plans to liberate Kharkov, expert says

According to Roman Shkurlatov, two Patriot systems will not make Kharkov safe

Xi Jinping says ready to maintain close communication with Putin — Xinhua

The Chinese president said "the world is now facing changes unprecedented over the past century and has entered a new period of turbulence and change"

Russian-Chinese heavy helicopter project implemented on schedule — First Deputy PM

Russia’s First Deputy Prime Minister Denis Manturov noted that "the contract implementation stage is already underway"

Russian troops destroy 600 combat aircraft in Ukraine operation — top brass

The Ukrainian army lost over 520 troops in battles with Russian forces in the Donetsk area over the past day, Russia’s Defense Ministry reported

Russia, China sign ten joint documents

The agreements penned included an initiative to develop the Bolshoy Ussuriysky Island, protocols on requirements for beef and other products exported to China

Urals defense firm boosts armored vehicles output 20% — Rostec

Kurganmashzavod is the largest enterprise in the Kurgan Region and a leading producer of the Russian defense industry

Blinken’s visit to Kiev shows US concerned over Ukrainian failures on frontline — diplomat

"He sang a song, ate some pizza and left," Maria Zakharova noted

Fico shot multiple times, undergoes five-hour operation — doctors

Slovak Defense Minister Robert Kalinak, confirmed that doctors had managed to stabilize Robert Fico’s condition overnight

Russia and China continue to strive to simplify trade in Asia-Pacific region — statement

Both countries also expressed gratitude for collaboration within the G20 and stated their commitment to "continue joint steps at this platform in order to promote inclusive and mutually beneficial processes of economic globalization"

Military conscripts in Ukraine to receive barcodes facilitating apprehension of deserters

According to the new law on tightening the rules of mobilization, men (regardless of deferments and reservations) will have to update their data in military registration offices within 60 days from that day and will have to carry a military card with them at all times

Iskander missile systems to take part in parade in Minsk for first time — Defense Ministry

The first rehearsal of the mechanized parade takes place at the Lipki airstrip in the eastern part of Minsk on Thursday

Russian forces advancing daily in special op, everything going according to plan — Putin

The Russian leader opened his meeting with commanders of troops of military districts by extending his greetings on the occasion of Victory Day

Ukrainian troops shelling civilians in Kharkov Region villages they were driven from

According to the ministry, units of Russia’s Battlegroup North continue to improve their tactical positions

Russia, China against sports politicization, discrimination based on national affiliation

The 2024 Summer Olympic Games will be hosted by the French capital of Paris between July 26 and August 11

Putin arrives in Harbin to open Russia-China Expo

At the request of the Chinese president, his deputy Han Zheng will accompany Putin in Harbin

China offers to provide security guarantees on Ukraine, West not ready — Lavrov

The Russian foreign minister specified that Beijing has "an absolutely correct position, essentially, to sort out root causes and collectively remove them"

What we know about attempt to assassinate Slovakia’s Prime Minister Robert Fico

Robert Fico was shot after a cabinet meeting in the city of Handlova in western Slovakia

Slovak PM Fico’s life out of danger — deputy PM

Robert Fico was wounded in a shooting incident that happened after a government meeting in the city of Handlova in the western part of Slovakia

Assassination attempt on Slovak PM Fico was planned in advance — defense minister

It is reported that doctors are doing everything possible to stabilize the patient

Erdogan says government knows 'puppet master' behind reported conspiracy

The Turkish leader said it is unacceptable to break laws, and warned that "anyone who goes beyond the limits will be held accountable"

Russia and China to set up commission for development of Northern Sea Route — Rosatom CEO

"Our task is to create in the shortest possible time a joint program for expanding Chinese transit along the Northern Sea Route, as well as for a number of other projects in the interests of using this global artery," Alexey Likhachev pointed out

Press review: Putin embarks on state visit to China and assassination attempt on Slovak PM

Top stories from the Russian press on Thursday, May 16th

China expects peace to recover on European continent shortly — Xi Jinping

The Chinese leader added that Beijing "is ready to play its constructive role"

Russia, Iran working to create single BRICS currency — Iranian ambassador

Kazem Jalali pointed out that the United States uses the dollar to create restrictions, and therefore the use of national currencies in mutual settlements is on the agenda

Putin arrives in China on state visit

The Russian president is scheduled to visit Beijing and Harbin

Some 80% of equipment at two Ukrainian thermal power plants destroyed

Yevgeny Garkavy, the technical director of Ukrainian electric and thermal power generation company Centrenergo, described the damage as "critical"

Russia, China to work on creating equal, fair conditions for investment

According to the statement, the parties agreed "to actively use and unlock the potential of interstate coordination mechanisms in the area of investment"

Russia, China to ensure uninterrupted payments between economic entities

Russia and China have also reached an agreement to step up cooperation in the area of banking and insurance regulation, as well as facilitate the stable development of banking and insurance companies of the two countries

Kremlin attributes surge in military enlistments to national unity

Earlier, the Russian Defense Ministry said that the number of people enlisting for military service under contract has gone up significantly in Moscow and other Russian cities

Putin, Xi Jinping conclude informal talks

During an informal lunch, each of the leaders was joined by four delegation members

Russia hails any peace initiatives for Ukraine — Kremlin spokesman

"We know the situation on the Ukrainian side, which excludes any talks for itself even from the legal point of view," Dmitry Peskov noted

Russian Aerospace Forces destroy three militant bases in Syria — Defense Ministry

Strikes by Russian Aerospace Forces destroyed three bases of militants who came out of the (US-controlled) al-Tanf zone

Slovakia’s PM in 'very serious' condition, president-elect says

Peter Pellegrini added that "the next few hours and days" will be decisive for Robert Fico, who is staying at a hospital in the town of Banska Bystrica

Putin says Russians, Chinese 'brothers forever'

The audience, listening first to the Russian speech and then to the Chinese translation, applauded the Russian president's words

Czech president speaks out in favor of halting hostilities in Ukraine

Petr Pavel believes it is "naive" to imagine that Kiev will be able to regain territory taken by Russia in the foreseeable future

Russian troops liberate three communities in Ukraine operation over past day — top brass

Russian troops repulsed ten Ukrainian army counterattacks in the Kupyansk area over the past day, the ministry reported

Yemeni Houthis claim delivering missile strike on US destroyer

Additionally, according to Yahya Saree, in the Red Sea, the Houthis attacked the commercial vessel Destiny en route to the port of Eilat in Israel

Russia developing thermal imager for Black Sea Fleet to repel night naval drone attacks

The devices help detect targets at a distance of over 1 km

Prime Minister of Slovakia shot by 71-year-old assailant — report

The man reportedly owned his weapon legally

Russia, China warn US, NATO against setting up military infrastructure in Afghanistan

The leaders of Russia and China also expressed their intention "to boost Afghanistan-related partner interaction both at the bilateral level and on multilateral platforms"

Russia, China praise dialogue as best form of settling Ukrainian crisis — statement

"The parties proceed from the fact that in order to ensure a sustainable settlement of the Ukrainian crisis it is necessary to eliminate its root causes and to adhere to the principle of indivisibility of security," the document said

Emergency blackouts renewed in Ukraine

Over the past two days, blackouts have been introduced in all Ukrainian regions

State Duma approves Mikhail Mishustin as Chairman of Russian Government

Prime Minister Mikhail Mishustin thanked State Duma lawmakers for approving his candidacy for the prime minister’s office

Russia, China to continue strengthening military ties — joint statement

The two countries are also set to hold joint naval and air patrols on a regular basis

Dnepr battle group destroys 15 Ukrainian boats in one day — Kherson governor

In addition, 23 drone control centers were destroyed and 34 drones shot down or disabled

Russia-China cross-cultural years to span beyond major cities — Putin

The Russian leader noted that "many people will have an opportunity to get to know each other, they will be involved in mutual communication"

Cuban president calls on US to remove Cuba from list of state sponsors of terrorism

Russia’s new defense minister should pay attention to strategic nuclear forces — expert

"In case of a first nuclear missile strike against Russia we should be able to destroy the aggressor with a retaliatory strike in a guaranteed manner," Igor Korotchenko noted

US imposes sanctions against Russian police training center in Nicaragua

According to Washington, the training center "contributes to anti-democratic actions and repressions from the Ortega-Murillo regime"

Khrizantema anti-tank missile gets extended flight range in upgrade — Rostec

The 9M123M Khrizantema anti-tank missile is designed to wipe out modern and future enemy armored vehicles with reactive armor, adversary fortifications and engineered structures, naval and low-speed aerial targets and manpower

US sanctions 2 Russians, 3 Russian-based companies over alleged links with DPRK

In particular, Rafael Gazaryan and the companies Trans Kapital and Rafort allegedly associated with him are blacklisted

US Congress has evidence of Biden family’s involvement in terrorism — Ukrainian politician

Andrey Derkach pointed out that "the criminal case that was initiated against Burisma was being actively investigated under [Ukrainian] Prosecutor General [Viktor] Shokin [in 2014-2016]"

Ukrainian servicemen complain about heavy losses due to shortage of equipment, munitions

Ukrainian forces lose a large number of armored vehicles to Russian FPV drones, platoon commander Alexander Belyayev said

Russia, China agree on developing railway cargo transportation, border crossings

According to Russian Railways, the document includes on cooperation in the field of science, technology and innovation, as well as in the field of personnel training

Woman, her four-year-old son killed by kamikaze drone near Belgorod

Another drone attempted to attack a filling station near the village of Bessonovka near Belgorod, Governor Vyacheslav Gladkov said

New relations, successes of China's automobile industry: what Putin, Xi said in Beijing

According to the Russian leader, the partnership between Moscow and Beijing "will serve as a model of how ties between neighboring states should be built"

King of Bahrain announces intention to boost cooperation with Russia

Hamad bin Isa Al Khalifa said he was grateful to Russian President Vladimir Putin for sending his envoy to the Arab League summit, and commended his "desire to strengthen relations with Arab countries"

US law banning imports of Russian uranium will not cause problems — Rosatom CEO

Alexey Likhachev admitted that the Russian side is worried about this, but not much, as "the demand for Rosatom’s uranium products in the world is constantly growing"

Russian deputy minister sees possibility of downgrading diplomatic ties with US

This will happen "if the West chooses the path of escalation," Sergey Ryabkov said

Confiscation of Russian assets by Estonia for transfer to Ukraine is theft — MFA

Deputy Foreign Minister Alexander Pankin stressed that Russia considers this "a violation of international law"

Putin to visit Harbin on second day of visit to China

During his visit to the administrative center of China’s northernmost Heilongjiang province, the russian president will be accompanied by Chinese Vice President Han Zheng

Russia and China plan to sign contract on Power of Siberia-2 in near future — Deputy PM

Deputy Prime Minister Alexander Novak mentioned the construction of a gas pipeline with a capacity of 50 billion cubic meters of gas through the territory of Mongolia

Russia mulls supply of powerplants for joint aircraft project with China — First Deputy PM

Denis Manturov recalled that the format of participation in this project has been revised, and Russia is ready to provide the necessary in-house competencies for the project on the basis of an agreement between the parties

Ukrainian forces use US-made GLSDB munitions against DPR civilians for the first time

DPR head Denis Pushilin said that two civilians were killed and three were injured by Ukrainian strikes on Thursday

Russia’s Soyuz 2.1b rocket carrying remote sensing satellite takes off from Baikonur

According to Roscosmos, the satellite will enter its intended orbit nine and a half minutes after the takeoff

Putin warns against imbalances in economy, industry related to special military operation

The Russian leader also stated the importance of diversification of military production at a meeting with commanders of military district troops

Russia expels UK defense attache from Moscow in tit-for-tat move — Foreign Ministry

Adrian Coghill "must leave the territory of the Russian Federation within a week," the ministry said

Russia, China express concern over effect of AUKUS agreements on stability in Asia Pacific

AUKUS was established in September 2021 to implement the defense initiatives of Australia, the UK and the US in two areas

Half of Avdeyevka’s territory cleared of explosives — newspaper

"We begin by talking to civilians and asking whether they came across anything unexploded," said the commander, identified by only his call sign Panda

Slovak leader urges suspension of country's campaign for European Parliament elections

Peter Pellegrini emphasized that "Slovakia must choose the path of peace and coolheadedness"

Putin, Xi sign statement on deepening relations

The document was signed after extensive Russian-Chinese negotiations

Russian pipeline gas supplies to Europe up 21% in January-April — GECF

Total gas consumption in the EU lost 5% in January-April year-on-year to 135 bln cubic meters

Blinken says Ukraine may engage in talks if Russia shows 'interest'

Antony Blinken noted that in terms of negotiations, these are "decisions for Ukraine to make"

Russia-China relations not opportunistic, not directed against anyone — Putin

According to the Russian leader, Russia and China together uphold the principles of justice and a democratic world order that reflects multipolar realities and a world order based on international law

Zelenodolsk shipyard to float missile, patrol ships on May 7

Project 22800 ships with Kalibr missiles are brown-water multirole missile-artillery boats designed to destroy surface warships and boats and repel air attacks

New head of Taiwan claims readiness for dialogue with mainland China

China’s authorities have repeatedly noted that what is known as the 1992 Consensus is a condition for dialogue with Taiwan, however, Lai Ching-te claimed not to support it

Russian diplomat says US authorities remind him of ‘rampaging street mobsters’

"Among the powers that be in the United States and other key Western states there have gathered quite a few personalities who are, by and large, provocateurs, whose raison d'être is to test Moscow’s strength," Sergey Ryabkov said

Russia’s Strategic Missile Force builds up combat capabilities with new missile systems

Currently, Russia’s Strategic Missile Force is replacing Topol-M intercontinental ballistic missile systems with Yars ICBM launchers and placing Avangard hypersonic missile systems on combat duty in its Yasny missile formation

Ukraine’s military has about 2,000-strong garrison in Kherson — resistance fighters

Ukrainian service members have been moving little in the city lately and normally only at night, the Kherson Resistance guerilla unit commander added

Russian forces strike Ukraine’s Operational Command South headquarters

The enemy’s troops and military hardware had been hit in 112 districts

Four people killed, two injured in Ukrainian shelling of Donetsk

Four women died on the Petrovskogo Street

Russia’s onslaught on Kharkov may compel Ukraine to truce — NYT

On May 11, Russia’s Defense Ministry reported liberating several populated localities in the Kharkov Region

Russia urges US to respond to its prisoner swap proposals — diplomat

"We call upon them to focus on a realistic search for solutions on the basis of Moscow’s proposals, which they are well aware of," Sergey Ryabkov said

Treaty on Russian-Iranian strategic partnership 85% ready — Lavrov

According to the top Russian diplomat, "what is going on between Palestinians and the Israelis" have no impact of the negotiating process on the big treaty between Russia and Iran

Serbian president says ready to assist Moscow-Kiev talks

The leaders of China and the United States should play the role of mediators in these talks, Aleksandar Vucic said

Hezbollah drones attack Israeli military base some 50 km from border with Lebanon

"The operation was carried out in response to the killing of field commander Hussein Makki near Tyre", Hezbollah said on its Telegram channel

Russian stock indices in the green as trading closes on Thursday

The dollar-to-ruble rate decreased by 0.12% to 90.97 rubles, while the euro-to-ruble rate increased by 0.02% to 98.86 rubles

Zelensky admits possibility of Ukraine losing Kharkov

The Ukrainian president asked US Secretary of State Antony Blinken to provide two Patriot systems to defend Kharkov, but the US diplomat did not give him an unequivocal answer

Ukraine’s terror attacks on Russia 'revenge' for military failures — North Korean envoy

According to Sin Hong Chol, "the Zelensky puppet clique committed hundreds of unethical atrocities of killing innocent inhabitants by striking civilian objects"

Russia, China to expand cooperation in information and communications technologies

Expansion is planned in such areas as artificial intelligence, communication, software, internet of things, open source code, network and data security, videogames, radio frequency coordination, specialized education and industry-based scientific research

Kremlin aide says talks between Putin, Xi Jinping went 'very well'

Yury Ushakov noted that the leaders touched upon the issues "in the trade and economic area, but some foreign policy topics were also discussed"

US did not enable Ukrainian strikes beyond Ukrainian territory — Blinken

The US secretary of state noted that Ukraine must decide on how to carry out combat action on its own

IAEA to remain at ZNPP for ‘as long as it is needed’ — director general

"The nuclear safety and security situation at the plant remains extremely precarious and challenging," Rafael Grossi said

Israel to send additional forces to Rafah operation — defense minister

Yoav Gallant made the statement after travelling to an area near Rafah on May 15 to assess the situation

Russian envoy slams Washington’s allegations of Moscow posing threat to US elections

Anatoly Antonov emphasized that US intelligence agencies had failed to provide any evidence

Russia to join ranks of top four global economies — presidential decree

The government is tasked to present eleven new National Projects by September 1 of this year

Russian Su-25 attack aircraft wipe out Ukrainian equipment, personnel over past day

After employing air-launched munitions, the pilots performed a missile evasion maneuver, fired flares and returned to their airfield, it said

West should assess risks of Russia's response to asset confiscation — Foreign Ministry

Russian Deputy Foreign Minister Alexander Pankin noted that retaliatory measures "can be both symmetrical and asymmetrical in a variety of instruments, including legal, financial, and administrative"

Zelensky's presidential powers to expire May 21 — Ukrainian legislator

Alexander Dubinsky argues that the only situation where the president can continue to fulfill his duties after the expiration of his term is the period until the president-elected takes office

International experts see no signs of drone launches from Zaporozhye NPP territory

IAEA said its experts examined the nuclear site’s perimeter and "other buildings, which they are permitted"