Russia's Central Bank head does not think the decision to reduce the country's sovereign credit rating below investment grade will impact the Russian economy.
"Our rating has not always been at investment grade," Elvira Nabiullina said on the Sunday Time program, broadcast to Russia's Far East. "We started growing in the 2000s, when our credit rating was below investment grade, but we finally reached it," she said.
Ratings may have an impact on the stock exchange, or financial markets, she said, "But one can't say they define the global situation in the economy in any way," she added.
"The economic situation depends on other things: the number of jobs available and opportunities to promote industrial development. These are things of more global and fundamental significance. We must attach attention to these things, and then ratings will rise," Nabiullina said.
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