Nabiullina: Cbank has room for further reduction of key rate

MOSCOW, Jul 13 (PRIME) -- The Russian central bank has the possibility of further reducing the key rate, Chairwoman Elvira Nabiullina said on Monday at a meeting of the financial market development committee at the Federation Council, the parliament’s upper house.

“Data that we have collected after our latest decision on the key rate, data for June and the beginning of July in the first place, shows that we still have some room for a further reduction (of the rate),” she said.

In June, the regulator reduced the key rate by 1 percentage point to 4.5% annually, setting a new record.

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