Cbanker: Coronavirus impact on Russian economy insignificant

MOSCOW, Mar 4 (PRIME) -- The direct impact of the coronavirus outbreak on the Russian economy is insignificant, the economy and the financial markets are stable, but still need close monitoring, Central Bank First Deputy Chairwoman Ksenia Yudayeva said on Wednesday.

“We have received many question about the coronavirus. I should say that the direct impact (of the outbreak) on our economy is minimal, there is some indirect influence through the change of situation in other states. Generally, our economy and the financial markets are stable enough, but nevertheless need a constant watch and reasonable decisions,” she said.

The central bank is ready to use all available tools to mitigate the influence of coronavirus on the domestic markets, she also said.

“As to the financial stability, we have all necessary tools, tools for rapid action. They were developed long ago and have been used several times, and, of course, we are ready to use all of the instruments if necessary.”

While making its next decision on the key rate later in March, the central bank will assess the risk balance and focus on macroeconomic indicators, Yudayeva added.

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