Chairman of the Central Bank of Russia Elvira Nabiullina at a government meeting with President Vladimir Putin said that the Bank of Russia is ready to extend certain anti-crisis measures for Russian banks. “Decisions were made to ease banking regulation so that our banking system can adapt. We curtailed some of the measures because the banks no longer needed them, and some were going to be phased out on October 1. But now, taking into account how the situation will develop, we are, in principle, ready to extend these measures with some modifications,” RIA Novosti quotes Ms. Nabiullina. She also noted that the Central Bank will try to prevent fluctuations in the ruble exchange rate from negatively impacting the inflation rate.

As Kommersant reported , at exchange trading on Wednesday the dollar exchange rate was more stable and no longer made rapid somersaults, as on Monday and Tuesday. Today it did not go beyond 70 rubles/$, while the euro exchange rate gradually decreased, reaching 79.3 rubles/€. At the same time, oil prices remain at values close to the minimum for six and a half years, which determines the current position of the Russian currency. Despite this, the Ministry of Economy believes that starting from the fourth quarter of 2015, the Russian economy will grow by at least 5% per quarter.

Read more about the updated macroeconomic forecast in the Kommersant article “Bottomless Optimism.”

The Central Bank is ready to extend the anti-crisis program for banks