Vyugin criticises Russia's rouble policy

The Russian central bank's "protectionist" rouble policy is causing the stock market to overheat and is threatening to create an asset bubble, Russia's top financial regulator said on Thursday 15 April.

"The only defense against such enormous liquidity [is] to let the rouble float freely. In such a case the national currency would appreciate, the flow of dollars would be devalued and excessive liquidity would not result," he said.

"Enormous liquidity has flooded the Russian money market. Due to

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