Official: Russian cbank sees potential to cut key rate in long term

ST. PETERSBURG, Jul 14 (PRIME) -- The Russian central bank sees potential for reducing the key rate in the long term, First Deputy Chairwoman Ksenia Yudayeva said on the sidelines of a financial congress on Friday.

“Taking a longer term trend of several quarters, of course, we can say with certainty that the rate will be reduced but at what pace -- it will be revealed on each meeting depending on the current assessment of the situation at each meeting,” Yudayeva said.

The central bank cut the key rate by 0.25 percentage points to 9% in June.

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