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Russia cenbank says opposes idea of imposing capital controls in crises
October 31, 2017 / 9:21 AM / a month ago

Russia cenbank says opposes idea of imposing capital controls in crises

MOSCOW, Oct 31 (Reuters) - Russia’s central bank opposes the idea of having the option of imposing capital controls in emergencies, the regulator’s first deputy head, Ksenia Yudayeva, said on Tuesday, saying the bank had all the tools it needed to support financial stability.

The finance ministry has floated a proposal to bring in such controls in crisis situations.

Yudayeva also told reporters that the central bank might cut its key rate by 50 basis points, or by 25 basis points, or take a pause as it gradually shifted to a neutral credit and monetary policy.

“The speed of this shift will depend on our analysis, inflation risks, and on the situation in the economy,” she said. (Reporting by Elena Fabrichnaya; Writing by Dmitry Solovyov; Editing by Andrew Osborn)

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