The Bank of Russia welcomes decision of the government not to spend extra oil and gas revenues, press service of the regulator told TASS:
"The budget policy with application of the budget rule may exert a stabilizing effect on the real ruble rate. Therefore we welcome the decision not to spend extra oil and gas revenues of the budget."
The regulator also believes attempts to manage the ruble nominal rate are inefficient:
"The Bank of Russia views attempts to manage the ruble nominal rate as inefficient and will not withdraw from the floating rate in any way."
(ITAR-TASS, January 19 2017)
