Russian minister: Ruble may grow, cbank may cut key rate more

SHARM-EL-SHEIKH, Egypt, Mar 16 (PRIME) -- The Russian ruble can strengthen further, and its growth will trigger deceleration of inflation, so the central bank will continue to cut its key rate, Economic Development Minister Alexei Ulyukayev told reporters March 13.

“We are likely to have an inflation peak soon because there is a certain financial stability level, certain position of the national currency, the situation on the foreign currency markets. I think that we can continue to move towards decreasing the rate, of course, weighing inflation and economic growth risks,” Ulyukayev said.

At the last meeting on March 13, the central bank reduced the key rate to 14% from 15%.

The key rate will be cut to a one-digit figure until the end of 2015 or in early 2016 if the situation remains as forecast, Ulyukayev said.

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