December 3, 2018 The State of the Russian Economy Economics, Emerging Markets, Russia Alexander Kudrin, Evgeny Gavrilenkov Read More...
June 19, 2019 Russia’s Growth: Walking with Hurdles Emerging Markets, Russia Russa GDP Alexander Kudrin, Evgeny Gavrilenkov Rosstat recently published some data which looked both disappointing and encouraging. On the one hand, it reported that Russia’s GDP grew just 0.5% in 1Q19, which was well below all expectations. On the other hand, April statistics surprisingly looked... Read More...
July 25, 2019 Economy: Making Russia Safe Again Emerging Markets, Russia Russian Economy Alexander Kudrin, Evgeny Gavrilenkov The CBR can support consumer demand by gradually bringing its key rate closer to more comfortable levels, where the word “comfortable” means comfort not to the foreign buyers of the government bonds and not to local banks, but to... Read More...
August 28, 2019 Russia in Global Context: Resilient to Shocks, But Growing Slowly Emerging Markets, Russia Russian Economy Alexander Kudrin, Evgeny Gavrilenkov In recent weeks a flow of rather hot news was unable to ease the concerns about slowing economic growth worldwide, but Russia was not in the spotlight, as such issues as burning rainforests in Brazil, continuous attempts of the... Read More...
June 24, 2019 Russian Macro: Healthy Rate Cut Emerging Markets, Russia CBR, macro Alexander Kudrin, Evgeny Gavrilenkov Rosstat reported that the major economic indicators in May 2019 were not as good as in April, but that was largely expected as there were fewer working days this year in May than in 2018. The fact that the... Read More...
August 21, 2019 OFZ: Market Calm, Risks Moving to 1Q20 Emerging Markets, Russia OFZ Alexander Kudrin, Evgeny Gavrilenkov Despite the new round of anti-Russian sanctions and the increase of global turbulence in the first half of August, the OFZ market remains calm. We believe that it still contains fundamental value as inflation continues to slow down in... Read More...
June 20, 2019 OFZ: Supportive Combination Emerging Markets, Russia OFZ Alexander Kudrin, Evgeny Gavrilenkov The recent CBR decision to cut the key interest rate and its generally dovish comments about the future direction of the monetary policy may support demand for OFZ from international players. If we take into account the high chances... Read More...
October 11, 2019 Russia’s Monetary Policy: Priorities to be Reconsidered Amid Decelerating Inflation, Slow Growth Emerging Markets, Russia CBR Alexander Kudrin, Evgeny Gavrilenkov As in early October the w-o-w inflation did not move to a positive territory for another week and remained at zero, it became almost certain that inflation is going to get closer to 3.0% rather than to 4.0% this... Read More...
October 18, 2019 Sovereign Debt: OFZ Rally is a Problem for the Finance Ministry Emerging Markets, Russia sovereign debt Alexander Kudrin, Evgeny Gavrilenkov Despite the new round of anti-Russian sanctions and the increase of global turbulence in the first half of August, the OFZ market remains calm. We believe that it still contains fundamental value as inflation continues to slow down in... Read More...
