Russian cbank still plans to switch to floating rbl rate by 2015

MOSCOW, Mar 5 (PRIME) -- The Russian central bank, which decided on Monday to set the parameters of the rate policy on a daily basis, still keeps its plan to switch to a floating currency rate by 2015, a regulator spokesperson told PRIME on Wednesday.

“The bank intends to continue the implementation of measures to shift to the regime of a floating currency rate and inflation targeting as soon as the situation on financial markets calms down. The decision is aimed at reducing threats to financial stability,” the spokesperson said.

The spokesperson also said that the move of the Finance Ministry and the Federal Treasury to suspend foreign currency purchases for the Reserve Fund will contribute to the stabilization of the situation.

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