Bank of Russia Governor Elvira Nabiullina announced that the central bank and the Ministry of Finance are considering various options to assist investors with assets frozen abroad, but will not publicize their initiatives due to obstruction from foreign regulators.
Bank of Russia Governor Elvira Nabiullina stated the regulator considered both reducing and maintaining the key rate, with isolated proposals to raise it, following a board meeting. She noted the analysis of the fuel situation and government measures to stabilize the market.
The European Union has imposed sanctions on Sergey Belov, Deputy Chairman of the Bank of Russia, for overseeing departments including cash circulation and field institutions. He is cited for managing banking services in front-line areas and occupied Ukrainian territories, facilitating the forced transfer to the Russian rouble.
The Bank of Russia acquired 4.8 billion rubles ($61.4 million) worth of yuan on the domestic market for settlement on July 22, 2026. This follows a similar purchase of 4.8 billion rubles in yuan with settlement on July 21.
The Bank of Russia may pause its key rate-cutting cycle at its upcoming meeting, influenced by recent domestic fuel market events impacting inflation dynamics and rising inflation expectations, according to experts.
The Bank of Russia's gold reserves dropped to 73.4 million troy ounces by July 1, 2026, marking their lowest point since February 2020. This decline has been continuous since January 2026, with total value at $298.99 billion as of March 1, 2026.
The Bank of Russia purchased 4.8 billion rubles ($62.62 million) worth of yuan on the domestic market for settlements dated July 9, 2026. This follows a purchase of 4.7 billion rubles ($61.32 million) for settlements dated July 8.
The Bank of Russia purchased yuan on the domestic market with settlement on July 6, 2026, totaling 9.3 billion rubles ($121.57 million). The bank also conducted foreign currency operations on July 3, totaling the same amount.
Bloomberg Economics forecasts Russia's key interest rate to fall to 13% by the end of 2026 and further decrease to 10% by the end of 2027. The Bank of Russia is expected to continue easing monetary policy, albeit at a slower pace.
The Bank of Russia is not setting a specific timeframe for phasing out Visa and Mastercard cards, stating they will be gradually withdrawn from circulation. Elvira Nabiullina noted that these cards function similarly to Mir cards and their share in the Russian market is already declining, currently standing at around 17%.
The Bank of Russia purchased yuan on the domestic market for 5.3 billion rubles ($68 million) with settlements on July 1, 2026. The central bank also bought yuan worth 5.3 billion rubles on June 30.
The Bank of Russia does not anticipate a significant impact on overall imports from Russia's purchases of gasoline from other countries, despite assessing the situation. Director Andrey Gangan noted that while there might be a slight increase in this category, volumes are unlikely to alter established trade trends. The Central Bank will update its inflation forecast based on government measures.
The Russian ruble has stabilized within a 75-85 rubles per US dollar range, contrary to many expectations, according to Andrey Gangan, Director of the Monetary Policy Department at the Bank of Russia. He noted that despite past economic shocks causing sharp fluctuations, the currency has maintained this established trading band over the past year and a half.
Central Bank chief Elvira Nabiullina stated at the Financial Congress in St. Petersburg that the Bank of Russia does not favor high interest rates, emphasizing the need for affordable loans and fair competition, while urging caution on the term "economic cooldown."
The Bank of Russia purchased 5.3 billion rubles ($68 million) worth of yuan on the domestic market with settlements on June 25, 2026, as reported by the regulator. This follows a similar purchase with June 24 settlements, part of its ongoing yuan-ruble operations on the Moscow Exchange.
The Bank of Russia will soon release a consolidated ranking of microfinance institutions (MFIs), Deputy Chairman Mikhail Mamuta announced. The ranking will assess MFIs based on complaints received by the Central Bank and the Financial Ombudsman Service, aiming to provide a comprehensive view of their consumer interactions.
The Bank of Russia lowered its key interest rate to 14.25% from 14.5%, a smaller cut than anticipated. Factors influencing the decision include increased war spending, Western sanctions, and a fuel crisis exacerbated by Ukrainian drone strikes on Russian refineries.
Bank of Russia Governor Elvira Nabiullina stated that key rate decisions must be forward-looking due to lags in monetary policy's impact on the economy and prices. She noted declining price growth but acknowledged risks of future inflation acceleration, emphasizing the need for pauses to assess information and policy effects.
Bank of Russia Governor Elvira Nabiullina stated that the scope for further key rate reductions has diminished. The central bank recently cut its key rate to 14.25%.
The Bank of Russia will revise its key rate forecast at the upcoming July Board meeting, announced Central Bank chief Elvira Nabiullina. She stated that while a specific figure cannot be given yet, more certainty is expected by the next meeting, with potential changes affecting the years 2026-2027.
Elvira Nabiullina, head of the Bank of Russia, stated that the national economy faces no risks of overcooling. She cited increasing business and consumer activity in May and the absence of traditional cooldown markers like low inflation, rising unemployment, and falling real incomes.
The Bank of Russia anticipates a GDP increase of 0.5% by the end of the first six months of 2026, according to Central Bank chief Elvira Nabiullina. The economy has already entered positive territory in April, with an estimated growth of 0.3% from January to April.
Central Bank chief Elvira Nabiullina stated that the Bank of Russia estimates the balance of risks has shifted more towards pro-inflationary factors. While Middle East conflict risks have lessened, uncertainty remains regarding global economic implications, potentially affecting Russia via import prices and logistics.
Russia's Foreign Ministry warns NATO countries of a devastating response if Russia is attacked. Meanwhile, reports indicate a US-Israeli strike on a humanitarian aid aircraft in Iran, and attempted Ukrainian drone attacks on Moscow.
