The Bank of Russia does not expect the ruble to weaken due to the key rate remaining at the same level.
The head of the Central Bank, Elvira Nabiullina, stated that the exchange rate is tied to a greater extent to the trade balance.
She explained that the regulator does not expect the ruble to weaken due to the decision to keep the key rate at 21% per annum, RIA Novosti emphasizes.
Nabiullina said that the Central Bank's decision, which turned out to be softer than expected, will not contribute to a further weakening of the ruble.
The rate will remain the same until February. At the February meeting, the regulator will choose what the rate will be in the future.
First of all, two possible scenarios will be taken into account.
The Bank of Russia will presumably not raise the rate if it is convinced that the achieved rigor in the policy being pursued is sufficient.
The board of directors may decide to raise the rate if the overheating demand cannot be curbed.
Author: Elena Gutyro
