Key rate change has more indirect influence on ruble rate — Bank of Russia

Business & Economy August 11, 2023, 17:30

"We continue following the floating currency rate regime. It enables the economy to adapt efficiently to changing external conditions and the Bank of Russia - to pursue an independent monetary policy," Alexey Zabotkin noted

MOSCOW, August 11. /TASS/. Key rate changes have a more indirect effect for the ruble rate and the Central Bank continues pursuing the floating currency rate, deputy governor of the Bank of Russia Alexey Zabotkin said at as press conference.

"The impact of the key rate on a number of variables has changed; in particular, this is in respect of the ruble exchange rate. The key rate now has more indirect influence on it," Zabotkin said.

"We continue following the floating currency rate regime. It enables the economy to adapt efficiently to changing external conditions and the Bank of Russia - to pursue an independent monetary policy," he added.

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