The Central Bank may raise the rate if the dollar rises to 100 rubles – Kommersant
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The Central Bank (CB) may raise the key rate again if the dollar approaches 100 rubles, said Anatoly Aksakov, head of the State Duma Committee on the Financial Market. However, he considers such a scenario unlikely.
“If the ruble continues to fall, approaching 100 rubles per dollar, the Central Bank may once again raise the key rate,” Mr. Aksakov said in an interview. “Parliamentary newspaper”.
The deputy is convinced that the dollar will cost less than 100 rubles. “If the ruble weakens below this mark, then it is obvious that people, in order to preserve their savings, based on the expectations that are formed under the influence of this figure, will begin to buy the currency and thus put additional pressure on the ruble,” he added.
Board of Directors of the Central Bank at an extraordinary meeting on August 15 raised the key rate immediately by 3.5 percentage points, up to 12%. The regulator assured that the decision was made in order to limit the risks for price stability. After the decision of the Central Bank, the dollar decreased up to 95 rubles / $. Today, September 5th, traded at the level of 97 rubles/$.
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