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Bank of Russia sees no need for extraordinary action.

Bank of Russia sees no need for extraordinary action.
As the crisis persists, the Bank of Russia has no need to make use of extraordinary policy tools, like public debt buyout., Elvira Nabiullina announced at VTB Capital Russia Calling! forum today.
Banks resort to ad hoc measures when they have exhausted all other opportunities, and volatility is still flying high, so that extraordinary efforts are required to support the budget [like public debt buyout]. I believe we have tools other than those. At any rate, I think there is nothing in the foreseeable future that will compel us to use these of tools,' Nabiullina said.


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