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The Bank of Russia Does not Change the Interest Rate. However It Raises Reserve Requirements
25 march 2011
On 25 March the Board of Directors of the Bank of Russia took a decision to preserve unchanged the interest rates on attraction and placement of liquidity.
There Is no Point in Counting on Accelerated Growth of Bank Landing to the Economy
22 march 2011
This path will lead to massive foreign borrowing and will reduce the financial stability of the entire banking system.
The Bank of Russia Announced on Changing the Parameters of the mechanism of Exchange Rate Policy
02 march 2011
On 1 March the Bank of Russia announced the expansion of the operational range of valid permissible value of the ruble equivalent of the bi-currency basket fr om 4 to 5 rubles. The Bank of Russia also announced a reduction of the volume of accumulated interventions, which lead to change of operational capital by 5 kopeks, fr om 650 mln to 600 mln USD.
The Bank of Russia Has Raised the Refinancing Rate to 8%
25 february 2011
On 25 February the Board of Directors of the Bank of Russia took a decision to raise the refinancing rate from 7.7% up to 8% annually and to raise at the same amount of the CB’s interest rate on the operations on provision and adsorption of liquidity to the credit organizations.
On the Implementation of the Social Development Strategy of the RF Armed Forces
22 february 2011
The “Social Development Strategy of the Armed Forces of the Russian Federation till 2020” (hereinafter referred to a Strategy) was developed in order to meet social needs of the military personnel, civil staff, military pensioners and members of their families. The Strategy was approved on 28 March 2008 by the decision of the Board of the Ministry of Defense of the Russian Federation. It was planned to implement the Strategy in three stages. First stage embraces the period 2008-2012.
Change the status of the law enforcement agencies
17 february 2011
Over the last several months a number of amendments were introduced in the legislation designed to reform the law enforcement system.
The World Prices for Food Stuffs Continue to Rise
04 february 2011
The FAO data suggest that in January 2011 the food prices on global markets hit their historic maximum.
The Bank of Russia Has Increased the Norms of Mandatory Reserves
01 february 2011
On 31 January 2011, the Board of Directors of the Bank of Russia once again adopted a decision that the interest rates established by the RF CB for liquidity provision operations should remain at their existing level.
In 2010, the Broad Monetary Base in Russia Jumped 26.6%
28 january 2011
In 2010, Russia’s broad monetary base increased by 1.7 trillion Rb to the amount of 8.2 trillion Rb.
On the New Tax Benefits for Capital Gains
25 january 2011
In 2010, a number of suggestions were made as to the introduction of tax exemptions for the capital gains derived from long-term investment projects1. At the end of the year, the RF Tax Code was amended to include a number of provisions which introduced tax exemptions on the gains in the capital value of shares and participations in Russian companies, provided they were continually owned by the taxpayer for a period of more than 5 years2.
The Draft Strategy for the Innovation Development of the Russian Federation Until 2020
21 january 2011
On 31 December 2010, the RF Ministry of Economic Development published a draft of The Strategy for the Innovation Development of the Russian Federation until 2020.
Consumer prices in Russia climbed 8.8% in 2010
17 january 2011
According to Rosstat, the consumer price index (CPI) for 2010 has risen to 8.8%.
On the publication of the 2011 Federal budget
30 december 2010
On 24 December, Rossiiskaia gazeta [The Russian Newspaper] completed its official publication of Federal Law of 13 December 2010, No 357-FZ, "On the Federal Budget for 2011 and the 2012 and 2013 Planning Period", begun a week earlier.
Inflation in Russia in 2010-2011
23 december 2010
In mid-December, the RF Ministry of Economic Development raised its official forecasted inflation rate from 7-8% to 8.3-8.5%.
Law on the Federal Budget for 2011–2013 is approved
14 december 2010
Federal Law of 13 December 2010, No 357-FZ, "On the Federal Budget for 2011 and the 2012 and 2013 Planning Period" is approved.
Legislative initiatives on Exchange Traded Pension Funds
10 december 2010
At the RF Government session of 1 December 2010 draft law “On introduction of amendments in the Federal Law "On Investment Funds"” prepared by the Federal Service on financial markets was reviewed.