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RUSSIA'S ECONOMY

Deputy PM explains how decreasing key rate may bring ruble to equilibrium rate

MOSCOW, April 27. /TASS/. The Russian Central Bank’s policy on decreasing the key rate will gradually bring the ruble to equilibrium rate, Deputy Prime Minister Arkady Dvorkovich told reporters.

"As for whether we need to do something to reduce the ruble's exchange rate, I think that the Central Bank and the economic block of the government are dealing with this issue. Secondly, the situation will improve as the Central Bank decides on reducing the key rate. This is completely within the competence of the regulator, so I would not say when and at what pace it should be done, However, I think that the rate will gradually reach equilibrium with a decrease of the key rate," he said.

Dvorkovich noted that for the companies exporting goods, according to expert assessment, the ruble should be weaker than the current level and the dollar exchange rate should reach around 60 rubles.

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