off-the-wire

Russia must not sacrifice price stability, cenbank governor tells lawmakers

Kitco Media
By Reuters
Published:
Updated:
Reuters



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This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine


MOSCOW, April 20 (Reuters) - Russia's Central Bank Governor told lawmakers on Thursday that sacrificing price stability would limit Moscow's ability to protect people from future shocks and that the bank was committed to maintaining a floating exchange rate.


Nabiullina said the bank would only interfere on the currency market when there was a risk to financial stability, as there was last spring when Western nations started imposing punitive sanctions against Moscow after it sent tens of thousands of troops into Ukraine.
(Reporting by Elena Fabrichnaya and Alexander Marrow Editing by Gareth Jones)

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