Is it time to cut key rate in Russia?

Maria Novoselova / Vestnik Kavkaza

The Central Bank of Russia's board of directors will likely consider a key rate cut at the next meeting, if current trends persist and no unforeseen events occur, Russia's Central Bank Governor Elvira Nabiullina said.

"If nothing unforeseen happens, and the trends currently in place continue, then with greater probability - if I can put it that way - we will be considering a rate cut. Most likely, the discussion will be about the size of the cut," Nabiullina said.

According to her, the last rate cut prevented a tightening of monetary conditions.

In early June, the Central Bank has lowered the key rate for the first time in more than two and a half years from 21% per annum to 20%.

© Photo :Maria Novoselova / Vestnik Kavkaza
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