Cbank says plans no increase of key rate at July 28 meeting

ST. PETERSBURG, Jul 13 (PRIME) -- Russia’s central bank does not plan to raise its key rate at the next meeting of the board of directors on July 28, Chairwoman Elvira Nabiullina said at a news conference on Thursday.

“We see no deviations in market expectations or in understanding of our prospects by the market now. I can say that we are not discussing a higher key rate,” she said.

In June, the regulator decreased the key rate by 0.25 percentage points to 9% annually. Previously, Nabiullina said that the rate may fall to 6.5–7% annually by 2020 if inflation stays at around 4%.

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