During her speech in the State Duma of the Russian Federation, the head of the Bank of Russia Elvira Nabiullina expressed the opinion that such an option is not ruled out that the trade wars that began on the planet will gradually develop into currency wars:
The massive inflow of capital observed in past years in the world when developed countries carried out unprecedented soft policiesmay be replaced by a period of equally entertaining and prolonged outflow of capital
At the same time, Elvira Nabiullina noted that the Russian market is among the developing ones, and it is these markets that will suffer losses in the first place.
The main banker of Russia believes that the main risks for the Russian economics amounts to the ongoing trade war between the US and China:
The introduction of mutual protectionist barriers between the largest economies - all this negatively affects global trade and threatens sustainable global growth.
According to the head of the regulator, the trade confrontation between such giants as the United States and China will collapse the stock markets, slow down the growth of the global economy and give a new impetus to the confrontation that could lead to currency wars.