Putin says central bank must not change key rate sharply

MOSCOW, Jun 15 (PRIME) – Sharp changes of the key rate is unacceptable because they can be detrimental for the stability of the ruble, President Vladimir Putin said on Thursday during a live question and answer session.

“The main thing for us today is not even the key rate in itself but the absence of its steep changes. We need to ensure stability of the national currency, the ruble stability. In this sense, the central bank acts very cautiously,” Putin said.

The central bank’s key rate amounts to 9.25% annually. The authority will meet to discuss a possible revision on Friday.

Putin said he hopes that the central bank will continue to reduce the key rate gradually.

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