The Bank of Russia sees a possibility of further reducing the key rate, the regulator’s Governor Elvira Nabiullina said on Wednesday.
"We see a possibility for a further reduction in the key rate, but, of course, the situation is very volatile," she said.
At the same time, she clarified that the Bank of Russia will reduce the key rate as inflation slows down.
At a meeting on June 10, the Board of Directors of the Bank of Russia lowered the key rate from 11% to 9.5% per annum. The next meeting will be held on July 22.