Russian governor weighs exchange rate pass-through
Elvira Nabiullina concedes prices have increased faster than expected
Bank of Russia governor Elvira Nabiullina shed light on how the exchange rate feeds through into prices in the country in her comments to the board of directors on September 11.
Speaking after the central bank held its policy rate at 11%, Nabiullina warned inflation risks had "increased somewhat" on the back of a "worsening" in external conditions. The nominal effective ruble rate fell by 10% in August.
"This resulted in a steeper rise in the current inflation than we have predicted earlier,"
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