- gradually moving away from using corridor
- may abandon interventions when repo becomes main tool
- new measures will effectively mean free float of the rouble but several steps remain
- sees no fx liquidity deficit now
- international reserves are in “comfort zone”
- will not give rules or size of additional interventions
- sees rouble stabilizing by year end
CBR’s dep gov Yudaeva on the wires further to this morning’s earlier announcement
More detail here
Do they really want it left to markets forces or ( not so) covertly admitting they can’t stem the incessant rouble declines?
How does this change the landscape for our rouble traders? Your observations most welcome.
