NEWS FLASH
After telling reporters some weeks ago that he preferred to do interest rate hikes 25bp at a time, Governor Felipe Medalla announced today that the Monetary Board decided to raise policy rates by a hefty 75bp in an off cycle move. This followed two separate 25bp increase in the last two month...
On July 13 the EU said that Lithuania must allow all Russian goods to be transported through its territory to the Russian exclave of Kaliningrad. Only weapons are banned. Road transport of certain goods remains banned.
The relaxation of the rail transit ban is good news for Russia. Sup...
Well, it cannot be justly said that the government is not moving quickly enough once it really feels the need to do so. Most lately, the following series of action took place:
1. Two days ago, the cabinet detailed in a decree its plans for this year's HUF568bn (0.9% of GDP) r...
In April 2022 the Prime Minister asked IT specialists not to leave the country. Russia is still trying to build a sovereign internet.
Digital Platforms is a Russian IT company that has made NashStore, which is Russia's answer to Google Play. It is doubtful that Russian alternativ...
The Ministry of Finance reported that in 1H22, the federal budget revenues reached R14.0 trln, i.e., 56.0% of the target. Spending reached R12.6 trln over the same period (53.4% of the annual target). Th...
NATO and EU countries have been supplying Ukraine since 2014. However, until 2022 this is mostly non-lethal aid. Ukrainian military officers have been trained in the US since the 1990s.
The US sold Ukraine Javelin anti-tank weapons from 2018. Ukraine started to buy TB2 drones from Turk...
In a pre-recorded televised conference yesterday, Laurentino Cortizo announced that his health is stable. He plans to continue leading the Executive until the end of the Constitutional term in July 2024. Last week Cortizo traveled to Houston, Texas, to obtain a second opinion about the diagnos...
Russia is bombarding Sloviansk in east Ukraine. Mostly, Russia is regrouping after taking Lysychansk. Russia appears to have learnt from its mistakes in February and March. Its strategy is now bite and hold. It concentrates overwhelming firepower on one area for as long as it takes to break th...
Today's non-rate-setting Monetary Council meeting, which is regularly held once a month, was turned into a rate-setting event, as expected on the basis of hints from the MNB given last week. The base rate went up to 9.75%, the same as the 1-week depo rate, and the interest rate corridor r...