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Effect of US-Russia talks on monetary policy premature — Bank of Russia

According to Elvira Nabiullina, "everything will depend on how the situation evolves, the probability is little at present to accurate estimate the effect on the economy and inflation"

MOSCOW, February 14. /TASS/. The effect of talks between Russia and the US on Ukraine is premature for the monetary policy, Governor of the Bank of Russia Elvira Nabiullina said at the press conference after the Board of Directors’ meeting.

"We do not have this factor in the base case. It seems to me it is premature to include it into the scenario, especially to the base case one. Everything will depend on how the situation evolves, the probability is little at present to accurate estimate the effect on the economy and inflation, as it seems to me," she said.

In the meantime, the regulator does not see any problems with the currency supply in the Russian market, Nabiullina said.

"We have not seen problems in the market thus far with the currency supply and keep an eye on currency revenue sales by exporters - it does not decline," she noted.

The Board of Directors of the Bank of Russia kept the key rate at 21% per annum at its first meeting in 2025, as expected before.