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MOSCOW, March 05. /ITAR-TASS/. In a reaction to the statement of Central Bank of Russia’s Governor Elvira Nabiullina Russian stock indexes have mostly gained back what they lost early on Wednesday.
Inflation might fall to the earlier estimated 5% this year, Nabiullina told a news conference on Wednesday adding investors were unnerved by escalating political tensions around Ukraine.
As of 4.15 p.m. Moscow time, MICEX and RTS indexes stood just 0.4% below Tuesday’s closing against about 2% losses in the middle of the day.
The currency market situation was already tough at the year-start, said Nabiullina, as it was aggravated by capital flight from emerging markets (EM) primarily due to the US Federal Reserve’s policy and the general EM slowdown. Volatility surged in a number of EM but the situation stabilized, whereas the political factor impeded a similar scenario in Russia.