Russian central bank to keep profits

Amendments to the Russian central bank law have been sent from the State Duma to the government for conciliation. If approved, the amendments will cancel the requirement that the central bank transfers 50% of its annual profits to the federal budget.

The central bank and finance ministry consider the amendments an anti-inflationary measure, since it will create an instrument for the sterilisation of money. If the government approves them, the amendments will become law in the autumn.


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