December 2, 2019 / 12:05 PM / 10 days ago

Russia central bank says external factors pose biggest threat to economy

MOSCOW, Dec 2 (Reuters) - The main risks to Russia’s economy are external, primarily trade wars, geopolitics and the global slowdown in economic growth, Russia’s central bank said in a regular report on Monday.

“Increased volatility on external financial markets can be transmitted into the Russian financial market amid a global economic growth slowdown,” the central bank said in its Financial Stability Review.

The central bank, which has cut its key interest rate four times in 2019, also said low interest rate policies employed by other central banks are posing a long-term risk.

“Short-term external risks have decreased but long-term risks are increasing, particularly in ... the transition of leading central banks to maintaining low rates for longer.” (Reporting by Alexander Marrow and Elena Fabrichnaya; Editing by Andrey Ostroukh and Catherine Evans)

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