Russia's central bank head: we plan to cut key rate gradually, pauses possible

Russia's central bank would cut its key rate gradually, the banks' Governor Elvira Nabiullina said.

The bank would cut rates gradually in the medium term and pauses between cuts are possible, Nabiullina told a news conference.

Nabiullina also noted that achieving low and stable inflation is the main task for her new term in office, adding that monetary policy could be tight for up to three years in order to limit inflation risks, Reuters reported.