Elizaveta Danilova during an interview in Moscow. Reuters
Russian Central Bank (CB) held its key interest rate at record low level of 4.25% and said it will not cut rates further, instead planning to start gradually raising them at some point in the future when inflation stabilises near its target.
Russia’s central bank (CB) kept rates unchanged at a record low, deciding against further rate cuts as inflation accelerates and risks rise of fresh sanctions against Moscow, but said a rate cut was still possible later this year.
The Russian central bank lowered its key interest rate to 6.00% on Friday, cutting the cost of lending for the sixth consecutive meeting amid slowing inflation, and said a further rate cut was possible at an upcoming meeting.
Profits in Russia’s banking sector rose to 70 billion roubles ($975 million) in June from just 500 million roubles in May, which included some weeks of lockdown due to the coronavirus pandemic, the central bank said in a report on Friday.
Global stocks rallied on Tuesday and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans.
The Lord Mayor of the City of London, Vincent Keaveny, has expressed his hope to strengthen the ties between the UAE and the United Kingdom, particularly in the financial and professional services sector.
Dubai property prices continue to increase across various affordable and luxury segments as key areas record high numbers. Sales trends in the first half of the year indicate