Inflation is a bigger concern for the Russian economy than U.S. president-elect Donald Trump, according to the nation's central bank.
"Brexit and Donald Trump's U.S. election victory were unexpected but nonetheless, the Russian economy and financial markets were not significantly affected," Ksenia Yudaeva, first deputy governor at the Bank of Russia, told CNBC's 'Squawk Box' on Monday.
Speaking on the sidelines of the Asian Financial Forum in Hong Kong, Yudaeva noted that Russia's macroeconomic policy, as reflected by the government budget and central bank decisions, has been stable and strong in the aftermath of both disruptive events, compared to other emerging markets.
She flagged inflation as the biggest risk to economic growth, rather than the prospect of increased sanctions.
Last month, the European Union (EU) decided to extend sanctions against Russia until mid-year while the U.S. has announced fresh punitive measures, including blacklisting five senior officials, in retaliation for Moscow's role in cyber-attacks during the U.S. presidential election.
Reference: CNBC
Read More: http://www.cnbc.com/2017/01/15/russian-central-bank-sees-inflation-a-bigger-risk-than-donald-trump-brexit.html
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