Russian banks have no problems with either ruble nor monetary liquidity, the First Deputy Chairwoman of the Central Bank, Ksenia Yudayeva, said in an interview to the ‘Russia 24’ television channel.
Yudayeva also noted that there is a gradual transition from a structural deficit to a structural surplus of liquidity, but it shouldn’t affect the possibility of interest rate targeting.
According to her, “the operating mechanism allows to target money market rates.” “A radical change will not happen in this sense,” the First Deputy Chairwoman of the Central Bank added.
She pointed out that if China will be able to cope with a reduction in the rate of economic growth it will have a positive impact on the Russian economy.
“The situation in China affects us, of course, the slowdown in traditional industries affects the global demand for commodities and Russia is a manufacturer of these products,” she said.
Yudaeva said that the impact of the US Federal Reserve System on the Russian economy is not great. According to her, a further increase in the interest rate by the US Federal Reserve System is possible.