Russian econ min says inflation at zero Aug, cbank can cut key rate

VLADIVOSTOK, Sep 5 (PRIME) -- Russia had zero inflation in August, and it decelerated to 6.8% on the year translating into expectations that the central bank can reduce the key rate by 0.5 percentage points at the next meeting in September, Economic Development Minister Alexei Ulyukayev told reporters on September 3.

“We expect (a key rate decrease). It will be funny if they do not do this now. They had to do this long ago and by now they would be funny,” Ulyukayev said.

“Inflation is at about zero. This means that year-on-year it is about 6.8%,.”

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