Russian c bank - For ex reserves growth too fast

RUSSIA - Russian Central Bank President Sergey Ignatyev has said that the country's gold and foreign exchange reserves are now close to a level that meets all conceivable criteria. He was speaking at a full-scale meeting of the State Duma (lower house) on 16 October.

Prime-TASS quotes Ignatyev as saying that it would even be better, if the reserves' growth rates slowed down. Otherwise, money supply will increase.

Asked about the possibility of using the reserves to extend loans to the real sect