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The Central Bank defended the financial stability in the country, but it’s too early to “exhale” – Nabiullina

“The coming quarters will not be easy, while the economy will adapt, it will be difficult for both companies and citizens.”

The Bank of Russia was able to protect financial stability and prevent the “inflationary spiral” from unwinding, but it’s too early to breathe out. This was stated by the head of the regulator Elvira Nabiullina at a meeting with the Association of Banks of Russia.

Elvira Nabiullina

 

Our measures were aimed at combating the problems that arose, as they say, here and now. As a result, we managed to protect financial stability and prevent an inflationary spiral from unwinding.

The economy is entering a period of structural transformation and will be in dire need of financial resources. At the same time, the banks themselves need support under the sanctions: this is capital, time, and more flexibility to determine a new business model.

What else did the Central Bank say

Elvira Nabiullina

The banking system needs mechanisms to allocate customers, risks and resources between sanctioned and non-sanctioned banks.

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