MOSCOW, November 29. /TASS/. The Central Bank maintains the floating rate policy but if volatility starts posing threat to financial stability, the regulator has tool to mitigate risks, Deputy Governor of the Bank of Russia Philipp Gabuniya said at the press conference.

The key rate continues discharging its function and no urgent measures are needed as regards the monetary policy, he noted.

"We believe the long-term rate dynamics is of the fundamental values. What we see during the last week is a very short period. Indeed, volatility induced by sanctions was created by a short-term mismatch in the currency supply on the market. We have already responded in this case as part of changing our approach to currency revenues sales and purchases within the budget rule framework," Gabuniya said.

The situation with the ruble rate will stabilize, the regulator believes. "From our point of view, adopted measures suffice at present. We see he signs that the situation will stabilize and maintain our policy in respect of the floating rate," the official said.

In case the short-term volatility caused by problems with payment jeopardizes financial stability, the Central Bank has "the sufficient arsenal of instruments to smoothen the situation," he noted.

The ruble remains sensitive to the key rate. "We are still aware that the key rate creates additional attractiveness for the ruble rate and lowers the demand in the economy, in particular, reduces the currency demand. Therefore, the key rate is operating in this part and we do not need to take urgent measures because we do not see the threat to stability at the moment," he added.