Russia's central bank may reduce its key interest rate further, First Deputy Chairwoman Ksenia Yudayeva said, speaking at the Federation Council, Russian parliament’s upper house.
“The interest rate has entered a neutral zone, we will consider various effects each time, but there is certain space for further reduction,” the Prime news agency cited her as saying.
Yudayeva also said Russia’s mortgage market will expand by around 21% in 2019, and grow at around 20% annually in the future, but it is important that the new homes market grow at a similar rate.
On September 6, the regulator cut the key rate by 0.25 percentage points to 7% annually after cutting it by the same amount in June and July. The next meeting of the Board of Directors of the Central Bank, at which the key rate will be discussed, will be held on October 25, 2019.
