Ruble rate targeting may pose risk for Russian economy
“If implemented, any ideas related to the rate targeting will inevitably result in a lower effectiveness and a loss of sovereignty of the economic policy,” said Alexei Zabotkin.
The central bank Deputy Governor believes that pegging the Russian ruble to the currencies of countries where inflation is 8-10% is unacceptable. This would entail the risks of the similar level price rise within the country. Zabotkin also noted that the ruble targeting in these conditions will inevitably lead to the abandonment of the independent monetary policy.
Source: Rossiiskaya Gazeta