ST. PETERSBURG, July 2 — The Bank of Russia is not anticipating a major shift in trade flows due to the country's gasoline imports from abroad,the director of the regulator’s Monetary Policy Department. Speaking at the Bank of Russia's Financial Congress,Gangan stated that the precise scale of these imports remains uncertain,complicating any attempts to provide accurate forecasts.
While he acknowledged a potential increase in gasoline imports, Gangan emphasized that the volumes are unlikely to be substantial enough to disrupt existing trade patterns. "We do not believe this will have a significant impact on imports," he remarked, indicating cautious outlook on matter .
The Central Bank is actively collaborating with the government to implement measures aimed at stabilizing the market. Gangan noted that ongoing assessments will inform updates to the regulator's inflation forecasts, reflecting the dynamic nature of the current economic landscape .
As situation evolves,the Bank of Russia remains vigilant, monitoring developments closely to ensure that any shifts in market are addressed promptly.
