Cbanker: Russia has all tools to support financial stability

MOSCOW, Oct 31 (PRIME) -- The Russian government has all instruments to support financial stability in case of various risks, including sanctions, Central Bank First Deputy Chairwoman Ksenia Yudayeva told reporters on Tuesday.

“I think that sanctions lists should be taken seriously. Nevertheless, I believe that we have all instruments to support financial stability in case various possible risks are implemented,” she said.

The U.S. State Department earlier released a list of Russian companies cooperation with which could be fraught with introduction of U.S. sanctions. The blacklist comprises the Federal Security Service, the Foreign Intelligence Service, the Main Intelligence Directorate of the General Staff of the Russian Armed Forces and 33 companies, including Rostec, Rosoboronexport, Russian Helicopters, Sukhoi Aviation Holding Company, United Aircraft Corporation and United Engine Corporation.

Yudayeva also said that the speed of cutting the key rate to “neutral” levels of 6.5–7% will depend on the economic situation and slowing of inflation.

“We currently see the neutral rate at the level of 6.5–7%. The speed of this switch will depend on our analysis of inflation risks and the situation in the economy, on how we forecast the situation with inflation in the economy, on dynamics of inflationary expectations,” she said.

Earlier in October, the central bank cut the key rate to 8.25%.

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