Ulyukayev: Central Bank has possibility to reduce key rate

Russian Economy Minister Alexei Ulyukayev said he saw potential for the Russian Central Bank to cut its key rate further at the next monetary policy meeting in July.

The key rate was reduced from 12.5% to 11.5% at the previous meeting in June, but  the head of the Central Bank, Elvira Nabiullina, said that the regulator may slow the fall of the key rate.