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Nabiullina Says RUB Weakness Poses No Risk to Financial Stability Yet

RUSSIA

Summary of comments from CBR Governor Nabiullina’s post decision presser (via BBG):

  • Discussion on FX restrictions is ongoing
  • Import demand amid lower exports led to weaker ruble
  • Ruble weakness no risk for financial stability now
  • Current rate hike cycle is not like 2014 or 2022

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