Siluanov said the ruble currency is attractive despite fed rate hike

Moscow. June 14. INTERFAX.RU – rate Increase, the fed does not pose a risk of outflow of capital from Russia, the ruble is still attractive to investors, according to Finance Minister Anton Siluanov.

The Federal reserve system of the USA following the meeting on June 13-14, decided to raise the target range of interest rates on Federal funds by 25 basis points to 1-1. 25% per annum. The decision coincided with the expectations of the vast majority of economists and market participants.

“The fed decision is expected, and it will not have a significant impact on the Russian economy, which is resistant to cyclical changes in commodity markets and capital markets. Russia has positive macroeconomic indicators, strong balance of payments, sustainable budget”, – told reporters on Wednesday evening, Finance Minister Anton Siluanov.

“The grounds for the risks of capital outflow is not the ruble continues to be an attractive currency for investors, including foreign ones,” he said.

The fed is counting on one more, the third rate hike in 2017.

In addition, the fed plans to begin reducing the assets on the balance sheet, which after the stimulus programs amounted to $4.5 trillion, this year.