The Central Bank does not yet see any threat to financial stability in the Russian Federation due to the depreciation of the ruble, writes RIA Novosti. The regulator confirmed the previously announced possibility of raising the key rate.

The Central Bank does not yet see risks to financial stability amid the weakening of the ruble

On Monday, for the first time since March 23, 2022, the dollar exchange rate exceeded 101 rubles. At the end of last week, the Central Bank stated that it sees no risks to financial stability.

“Today, there is no threat to financial stability. The exchange rate is formed under the influence of a large number of factors,” the regulator said in a statement.

As explained in the Central Bank, in addition to reducing the value of exports, there is also an increase in the demand for imports. It is associated with an increase in domestic demand, even in the context of high lending rates and the continued high level of demand from the state.

They confirmed the possibility of tightening monetary policy and another increase in the key rate at the next meeting. The Bank of Russia will take these measures to stabilize inflation at 4%.

The Federation Council, in turn, said that by the end of autumn a reversal and a depreciation of the dollar to 70 rubles can be expected.


Natalia Gormaleva

Source: RB

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