Central bank chairwoman promises to cope with new external shocks

ALMATY, Nov 15 (PRIME) -- The Russian central bank is sure that it will cope with a possible increase of external shocks, Chairwoman Elvira Nabiullina said at a congress of financiers of Kazakhstan on Thursday.

“We have used these tools more than once and we are sure that we will be able to protect ourselves from the risks to financial stability in case of a possible increase of external shocks,” Nabiullina said.

“There is a wide set of such tools in Russia: automatically launched foreign currency swaps, auction instruments to grant foreign currency refinancing to our banks and temporary easing in regulations for banks,” she said.

Suspension of foreign currency purchases by the Finance Ministry in mid-September in the framework of the budget rule was another instrument supporting financial stability in case of external shocks, she said.

According to Nabiullina, new risks for the price and financial stability make the central bank stay alert.

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