Nabiullina called Brexit “black Swan” for the global market

The results of the referendum in the UK about EU membership became one of the most unexpected events for the world’s economies. This was stated by the head of the Central Bank Elvira Nabiullina in her speech at the International financial Congress, reports TASS.

“This year has not yet ended, but one “black Swan” has already left, which proved to be the market is largely unexpected,” she said.

“If we talk specifically about Brexit, according to our estimates, its direct impact on the Russian financial system and the economy will be fairly limited,” said the head of the Central Bank, noting that the long-term consequences of Brexit will depend on the specific arrangements between the UK and the EU and their impact on the global economy and financial markets.

A referendum on British exit from the EU was held on 23 June. According to the results of 51.8% of the British voted to secede from the EU.

Press Secretary of the President of Russia Dmitry Peskov said that after the referendum on Brexit came the “unpredictable time”. He also noted that compared British exit from the EU with the collapse of the Soviet Union is inappropriate.

“Russia is a country that has gone through very difficult periods of its history, was the collapse of the Soviet Union. Many clearly remember the collapse of the Soviet Union, a time of uncertainty. Of course, here to draw direct Parallels would be unwise. But unpredictable time, it is obvious,” said Peskov.