The Bank of Russia assessed the impact of coronavirus on the economy

“still, a direct impact on our economy is minimal, there is an indirect influence through the change of the situation in other countries, but in General, if we evaluate the situation with the economy and financial markets today it is quite stable. But she, of course, requires constant observation, rationality in decision-making,” said Yudaeva (quoted by “Interfax”).

Photo: Sergey Konkov/TASS Roskomnadzor will restrict access to create fake reports of coronavirus

She said that the Central Bank is yet to assess the impact of new MASSTAB proinflationary risks in their monetary policy (DCT). In particular, the regulator will closely monitor the situation in the global economy and financial markets, including global interest rates and risk premiums, said Yudaeva. “When deciding on the OST, we will focus on a new assessment of the development scenarios of the Russian economy, and on the balance of risks for the economy and for inflation,” – said the first Deputy Chairman of the Central Bank.

the Next meeting of the Board of Directors of the Bank of Russia on the OST (the regulator decides on the level of the key rate) will be held March 20. In the last meeting in February, the Bank of Russia is the sixth consecutive year cut the key rate to the current 6% per annum. In fact, the regulator hinted at the imminent continuation of the rate cut, but after the recent fall of the ruble, the market doubts that the Central Bank in March will continue to soften monetary policy.

the Central Bank believes that the coronavirus can change the forecast for GDP growth Russia

on the Eve of the Federal reserve system (FRS) that perform the functions of country’s Central Bank unexpectedly announced the reduction of the base interest rate due to the coronavirus. Range rate fell from 0.5 intereston point with 1.5 – 1.75% to 1-1. 25 percent. The fed announced that it will continue to monitor economic risks associated with a coronavirus, and in fact hinted that it may continue easing monetary policy if circumstances warrant. This was the first unscheduled fed rate cut since the economic crisis of 2008. Schedule the next meeting of the fed’s monetary policy should pass on March 17-18.