High rates become factor of ruble appreciation — Bank of Russia
The Central Bank is now more confident in ruble strengthening than in April, Governor Elvira Nabiullina noted.
The high key rate indicators become one of main factors for ruble appreciation, Central Bank chief Elvira Nabiullina said at the press conference after the Board meeting.
"The key rate effect clearly manifested in two channels at once, the interest and the currency ones. High rates became one of main factors of ruble appreciation, and along with the demand cooldown it further influenced price dynamics in the non-food segment," Nabiullina said.
The Central Bank is now more confident in ruble strengthening than in April, she added.
Source
The high key rate indicators become one of main factors for ruble appreciation, Central Bank chief Elvira Nabiullina said at the press conference after the Board meeting.
"The key rate effect clearly manifested in two channels at once, the interest and the currency ones. High rates became one of main factors of ruble appreciation, and along with the demand cooldown it further influenced price dynamics in the non-food segment," Nabiullina said.
The Central Bank is now more confident in ruble strengthening than in April, she added.
Source