VTB CEO sees no key rate cut by central bank’s next meeting

MOSCOW, Mar 14 (PRIME) -- The Russian central bank is likely to retain the key interest rate at 7.75% annually at the next meeting on March 22, CEO of the country’s second largest lender VTB Andrei Kostin told reporters on Thursday.

“I do not think that the rate will be reduced,” he said.

In 2018, the regulator raised the key interest rate for the first time since 2014 on the back of a steep ruble weakening, higher inflationary risks and sanctions pressure.

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