Russia’s CBR maintains key rate at 16%
15 hours ago
Russian industrial production growth surged in February to 8.5%, easily outstripping analysts’ expectations.
Russian industrial production growth accelerated in February. According to Rosstat, industrial production growth accelerated in February to 8.5% y/y, after growing 4.6% in January, significantly exceeding analysts’ expectations and the market consensus forecast of 5.6%, according to Interfax, Renaissance Capital reported on March 28. (chart)
Adjusted for seasonality and the calendar factor (additional working day in February), growth compared to the previous month was 1.5% (after -0.2% in January and near-zero growth in 2H23).
The manufacturing industry continued to make a decisive contribution to the growth of industrial production (13.5% y/y in February after 7.5% in January), while the growth of the mining industry accelerated at a lower level (to 2.1% after 0. 8% y/y).
The sectors of the mechanical engineering complex (computers, electronics, optics, vehicles) and the metallurgical complex (production of metal products) continued to demonstrate advanced dynamics compared to last year.
The production of coke and petroleum products showed negative dynamics compared to last year. The growth of the manufacturing industry at the beginning of the year continued to be influenced by the growth of government spending, which accelerated in February.
Related Content
Data
Russia’s CBR maintains key rate at 16%
The board of the Central Bank of Russia (CBR) resolved to keep the key interest rate unchanged at 16% at the policy meeting on April 26, making a third meeting in a row that the rate is maintained flat.
NBU cuts rates 100bp to 13.5% on falling inflation
The National Bank of Ukraine (NBU) lowered the key policy rate by 100bp to 13.5% on April 25 and improved its inflation forecast as price pressure ease.
Turkey keeps policy rate constant at 50%
Central bank is, notably, no longer talking about building up its reserves in parallel with so-called monetary framework simplification policy.
_1713874341.png)
Slovak unemployment inched further down to 3.88% in March
There were 167,493 job applicants in March, which is at its lowest level since the end of 2019.
Poland’s industrial production disappoints in March as output declines 6% y/y
Poland’s industrial production fell 6% year on year in constant prices in March (chart), after a gain of 3.3% y/y the preceding month, unadjusted data from the statistical office GUS showed on April 22.
Most Read
-
The models are wrong, climate change is accelerating faster than predicted
2 days ago
-
Kuwait reacts angrily to being cut out of Iraq and Turkey’s transport project
1 day ago
-
European Parliament rules Russia’s presidential election illegitimate, calls Putin a "murderer"
1 day ago
-
Russia already treating Bosnia’s Republika Srpska as an independent state
2 days ago
-
Poland in two minds over Ukraine’s efforts to bring conscription-age men home
1 day ago
-
EU finally boosts defence investment into arms production as Ukraine runs out of ammo
1 month ago
-
Don't mention the "D" word - Ukraine
6 days ago
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
9 days ago
-
The models are wrong, climate change is accelerating faster than predicted
2 days ago
-
The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
4 days ago
-
Russia could pay off its entire external debt tomorrow, in cash
27 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
BRICS announce a blockchain-based payment system to create a common currency
30 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
1 month ago
-
Saudi Arabia to scale back plans for Neom city
17 days ago