The Minister of economic development of Russia Alexei Ulyukayev said he expected the decision of the Federal reserve system (FRS) rate increase will not have a major impact on the ruble, reports “RIA Novosti”.
“Some influence on the ruble may be, but it’s not the impact that defines the fundamental macroeconomic policy”, — said the Minister.
In his opinion, the decision to raise rates the fed will take on one of the two next meetings. He also noted that the impact on international markets, the rate hike has already had, even in 2015, “when the balance of capital flow for the first time turned negative for emerging markets”.
“I think that in General, these expectations are fulfilled and the fact of the rate changes no serious changes will bring” — said the head of the Ministry of economy.
The US Federal reserve raised the rate by 0.25 PP in December 2015. The regulator explained its decision by the fact that the US economy is strong enough after the recession of 2008. Since December 2008, the rate was at a historic low — in the interval 0-0,25%.
In December 2015, Ulyukayev also said that the fed rate hike will not severely affect the macroeconomic conditions of Russia and the ruble.
The next fed meeting, which will consider the issue of raising rates, will be held June 14-15.