Central Bank chief Elvira Nabiullina stated that despite a one-third increase in investments over the past three years, labor productivity has not yet risen. She noted that access to cheap money is crucial for technological investment and productivity growth.
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."
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.
US Vice President JD Vance may have postponed his trip to Switzerland for a US-Iran memorandum of understanding due to Tehran's demands regarding Lebanon. Iran seeks guarantees of a ceasefire in Lebanon before resuming talks.
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.
Rusya Merkez Bankası, politika faizini 25 baz puan düşürerek yüzde 14,25'e indirdi. Merkez Bankası Başkanı Nabiullina, enflasyonist risklerin arttığını ve kredi büyümesinin hızlandığını belirterek, faiz indirim alanının sınırlı olduğunu söyledi.
Central Bank chief Elvira Nabiullina stated that artificial intelligence is not yet a decisive factor in the labor market but its influence is expected to increase over time. While AI currently boosts productivity for individual companies, its broader macroeconomic effect is yet to be seen.
Elvira Nabiullina, head of Russia's central bank, has not been seen publicly for nearly three weeks, sparking speculation about her role. Credited with managing the Russian economy during the Ukraine war, she was reportedly against the invasion and had previously attempted to resign. Kremlin denies 'missing' claims, citing illness, but her absence raises questions about market confidence.
Kremlin spokesperson Dmitry Peskov commented on the absence of Elvira Nabiullina, head of the Russian Central Bank, from the St. Petersburg International Economic Forum, wishing her a speedy recovery and dismissing speculation.
Elvira Nabiullina, head of Russia's Central Bank, uses thematic brooches as a communication tool to signal the regulator's view on the economy. First seen in March 2020, these brooches have sparked analyst discussions and interpretations.
The Bank of Russia noted a significant increase in proinflationary risks in the national economy, Central Bank chief Elvira Nabiullina said at a press conference after the Board meeting. She said the risks are related to the conflict in the Middle East and possible changes in budgetary policy, requiring a more cautious and balanced approach to key rate decisions.
Central Bank chief Elvira Nabiullina warned that negative effects for the Russian economy will intensify if the Middle East conflict continues. At a press conference following the Board meeting, she noted the situation remains a significant external risk factor, warning that consequences from global cost increases may outweigh advantages from export growth and ruble appreciation.
Bank of Russia lowered its key rate by 0.5 percentage points to 14.5% per annum — the eighth consecutive cut. Central Bank chief Elvira Nabiullina said the Middle East conflict remains an uncertainty factor that will slow global economic growth, increase logistical costs, and accelerate inflation globally.
The Bank of Russia employs artificial intelligence as an auxiliary tool for routine operations and data analysis, but human decision-makers retain full control over monetary policy, Central Bank chief Elvira Nabiullina stated at a press conference. AI is used in primary data analysis stages, though Nabiullina noted that AI cannot yet replace professionals in the monetary policy sphere.
