The Russian Central Bank maintains the floating rate policy but if volatility starts posing threat to financial stability, the regulator has tool to mitigate risks, Deputy Governor of the Bank of Russia Philipp Gabuniya said.
The key rate continues discharging its function and no urgent measures are needed as regards the monetary policy, the deputy governor noted.
"We believe the long-term rate dynamics is of the fundamental values. What we see during the last week is a very short period," Gabuniya said.
According to him, volatility induced by sanctions was created by a short-term mismatch in the currency supply on the market, but the situation with the ruble rate will stabilize.
"From our point of view, adopted measures suffice at present. We see he signs that the situation will stabilize and maintain our policy in respect of the floating rate," Gabuniya said.
