May 24, 2018 / 9:00 AM / a month ago

Russian central bank: Economy, financial system adapted to latest US sanctions

MOSCOW (Reuters) - The Russian central bank is sticking to its plan to lower rates further as the economy and the financial system have already adapted to the latest U.S. sanctions, Central Bank Governor Elvira Nabiullina said in CNBC interview released on Thursday.

“Our monetary policy is one that we define as moderately tight and this year we intend to transition to a neutral monetary policy. Our assessment of a neutral key rate is 6-7 percent,” Nabiullina said.

Nabiullina also said the impact of rouble fluctuations on consumer inflation have become less pronounced.

Reporting by Andrey Ostroukh; Editing by Gareth Jones

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