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Russia CB Governor Signals Rate Cut

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Russia CB Governor Signals Rate Cut

Bank of Russia Governor Elvira Nabiullina signaled an interest rate reduction at the next board meeting.

“As always, we will consider a range of different economic scenarios and, taking these into account, we will evaluate what space is available for easing monetary policy and what steps we should take,” Nabiullina said Friday.

At the March meeting, the bank had retained its key rate at 6.00 percent after lowering it by a quarter point in February.

The governor noted that inflation at 2.9 percent is still below the target.

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