Central banker reiterates that further key rate cut possible soon

MOSCOW, Apr 21 (PRIME) -- The central bank still plans to consider a further cut of the key rate at the upcoming meetings of the board of directors, Chairwoman Elvira Nabiullina said on Thursday during a session of the parliament’s lower chamber State Duma.

“We started reducing the key rate as the situation on the financial market started to stabilize and as the inflationary pressure started to decrease. We even reduced the key rate to 17% without waiting for a scheduled meeting of the board of directors, and we will consider reducing it further at the upcoming meetings,” she said.

The regulator reduced the rate to 17% from 20% on April 8. The next meeting of the central bank’s board of directors  to consider the key rate is scheduled for April 29.

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