Increase in global balances // IMF predicts growth in global surpluses and deficits

Rising energy prices and the conflict in Ukraine will further increase the global current account balance this year to $3.9 trillion (3.8% of global GDP), according to a new report from the International Monetary Fund (IMF). An excess of global volume of deficits and surpluses, according to the organization, can increase protectionism and increase trade … Read more

Wage cuts did not prevent spending // Social payments and “other income” stopped the decline in household consumption

According to Rosstat, by the end of the second quarter, the rate of decline in real wages and consumption of non-food products in annual terms slowed down. Against the backdrop of declining wages (the main factor in the fall in real incomes by 0.8%), a stable labor market, the growth of social transfers and other … Read more

Press conference of the head of the Central Bank Nabiullina. Main statements

In September, the Central Bank will extend the restriction on the issuance of cash foreign currency to individuals. The Central Bank believes that the accumulation of savings by Russians can give rise to inflation: “Today, in fact, forced accumulation of savings is a compressed spring in the economy, which under certain circumstances can give rise … Read more

Between inflation and recession // The ECB began to tighten monetary policy

The European Central Bank (ECB) raised key rates for the first time in 11 years – and immediately by 0.5 percentage points, which brought the deposit rate out of the negative zone. The reason for the tightening of monetary policy, which was twice as sharp as expected, was the continued rise in inflation in the … Read more

Long-term construction keep building // The government is preparing to include them in the register

The White House is beginning to form a unified register of construction in progress, which are being built at the expense of budgetary funds – so far, the authorities have identified a list of 2.5 thousand objects in a high degree of readiness in the amount of 500 billion rubles, which are planned to be … Read more

Apartments set to decline // Prices in the secondary market are slowly declining

Continued growth in exposure in the face of limited demand from buyers contributes to the continued decline in average prices for resale properties. Potential buyers are not in a hurry to make deals, preferring only to inspect apartments for sale. In the short term, the situation is unlikely to change dramatically, point out analysts who … Read more

The issuer pays twice // Brokers have proposed a solution to the problem of frozen payments on Eurobonds

Brokers are asking to oblige issuers to transfer to Russian investors for the second time payments on Eurobonds that turned out to be frozen in foreign depositories. Further payments are proposed to be prohibited from being sent outside the Russian Federation. Experts do not argue that such a step would solve the problems of investors, … Read more

With confidence in tomorrow’s delay // Bank customers are waiting for their solvency to fall

After the outbreak of hostilities by the Russian Federation in Ukraine, clients of Russian banks lost confidence in themselves: only less than a quarter of them have no doubts about their ability to service current loans. In the future, experts admit that there will be even fewer confident in their solvency, which will lead to … Read more