Russia Central bank: Budget rule should not require forex interventions

By: |
Moscow | June 10, 2016 7:43 PM

A new budget rule under discussion by the Russian government should not necessarily require the central bank to intervene...

 Elvira Nabiullina expected there would be a manageable slowdown in the Chinese economy. (Reuters)Elvira Nabiullina expected there would be a manageable slowdown in the Chinese economy. (Reuters)

A new budget rule under discussion by the Russian government should not necessarily require the central bank to intervene on the currency market, the bank’s governor, Elvira Nabiullina, told a news conference on Friday.

The Russian finance ministry has said that, under the planned budget rule, the central bank should accumulate or sell forex reserves depending on the level of the oil price.

Also Read: India seeks greater market access in Russia

Nabiullina also said she expected there would be a manageable slowdown in the Chinese economy.

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