Oreshkin: Russian government economic efforts to speed interest rate cuts

The Russian government's work to create a predictable economic environment should help bring forward more interest rate cuts, the country's economy minister Maxim Oreshkin said.

He was commenting after the central bank cut Russia's key interest rate by 25 basis point to 9.75% on falling inflation.

"In the coming months, we expect prices to go down further. An inflation level of 4% will be reached no later than July," Reuters cited Oreshkin as saying.

The minister also added that the central bank's next steps will primarily be linked to the dynamics of mid-term inflationary expectations.