MOSCOW, December 1. /TASS/. The effect of changes in the US Federal Reserve rate on the Russian lending market has actually vanished, Department Director of the Bank of Russia Alexander Morozov said on Friday".
"The effect of Fed rates change on the Russian lending market disappeared and it cannot be identified. The increase in Fed rates and the change in Fed policy ceased to influence on Russia. Such loss of interrelationship between the Fed rate change and the policy of the Bank of Russia can be expected to continue until the process of policy normalization of the Fed, the ECB and the Bank of Russia is completed," Morozov said.
Lack of significant ties between the policy of the US Federal Reserve and actions of the Bank of Russia can be expected in several years to come, the official said.