Russia's positive balance of trade increased in 2017, ensuring a steady BoP position. The private sector saw capital outflow in 2017, mostly because Russian banks had trimmed foreign-exchange liabilities. The rouble appreciated on the back of stable balance of payments

In 2019, Russia's trade surplus shrank significantly as result of a declining value volume of exports which, in its turn, was pushed down by sliding prices of oil and increasing imports. Meanwhile, net capital outflow that had been observed in 2018 gave way to net capital inflow, to the value of...

In 2016, the Bank of Russia implemented a conservative monetary policy aimed at mitigating inflation. Commercial banks decreased their demand for central bank refinancing as the Reserve Fund was spent, in which case the central bank had to employ a set of instruments to prevent an increase in...

In Q1 2017, the current account surplus increased significantly due to rising exports alongside a slower growth in imports. Growth of the positive current account balance was the main factor behind the ruble's strengthening. At the same time, net capital outflow from the private sector also...

Russia's BoP data attest to a considerable decline in the current account surplus in 2016 compared to 2015. At the same time, net capital outflows in the private sector slowed down substantially because the rate of repayment of debts and liabilities slowed down, as a result of which the ruble...

Russia's current account balance continued to contract in Q3 2017 on the back of stabilizing exports amid rising imports. A financial account surplus was led by foreign capital inflow (FDI) into other sectors, as well as by nonresident purchases of Federal Loan Obligations (OFZs). A double BOP...

In 2019, a sharp and largely unexpected slowdown in inflation led to a significant easing of monetary policy. Over the course of that year, the Bank of Russia reduced its key rate five times: four times by 0.25 percentage points on June 14, July 26, September 6, and December 13; and by 0.5...

Russian Abstract: Несмотря на почти двукратное падение цен на нефть, торговое сальдо в I кв. сократилось не так сильно, как это случилось, например, в начале 2009 г. Масштабы...

This paper deals with Russia's monetary policy in 2014. The key developments in Russia's monetary policy in 2014 were determined by adverse processes in the Russian economy, which related to the tense geopolitical situation, massive capital outflow and the decline in the price of energy resources

Russia's positive balance of trade increased in Q1 2018 reflecting an increase of exports value amid slower growth of imports deliveries. Private capital outflow was observed triggered by the growth of foreign assets of Russian enterprises amid negative geopolitical expectations