VTB CEO sees central bank cutting key rate on Friday

MOSCOW, Oct 24 (PRIME) -- Russia’s second biggest lender VTB Bank expects the central bank to cut its key rate at a meeting on Friday, CEO Andrei Kostin told reporters on Tuesday.

“Women, they are cautious, that’s why I think (the rate) will be gradually decreasing,” he said.

The key rate currently stands at 8.5%.

The regulator’s Chairwoman Elvira Nabiullina said earlier the key rate could be reduced to 6.5–7% in 2019.

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