Russia's Central Bank key rate may drop to 145 percent - Aksakov

The Central Bank of Russia may decide to lower its key rate to 15-14.5% at its upcoming meeting, according to Chairman of the State Duma Committee on Financial Markets Anatoly Aksakov.

The kay rate currently stands at 15.5%, a level it has held since the Central Bank's last decision on February 13. The next meeting of the Board of Directors is scheduled for March 20.

"I believe a reduction of 0.5 percentage points is certain, but I even allow for a cut of 1 percentage point, as inflation trends make such a move possible. That is, inflation is showing a tendency to decrease, and even the inflation expectations of the population are declining," Aksakov said.

The regulator currently has every reason to lower the key rate, he added, noting that "given the situation on global markets, it is unknown when the budget rule will be changed", TASS reported.