CBRF monitoring impact on RUB from USD purchases – CBRF’s E.Nabiullina

Governor of the CBRF Elvira Nabiullina reiterated today that the central bank is closely watching any impact on RUB from the purchases of USD.

She argued that FX purchases do not play against the central bank’s policy of a free-floating RUB.

Nabilullina said the CBRF could consider a 25 bp rate cut when key rate is at a single digit level, while she plans to raise the forecasts for crude oil prices for the next 3 years.l