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Russia c.bank head says may cut rate by up to 50 bps next week
April 20, 2017 / 10:17 AM / 8 months ago

Russia c.bank head says may cut rate by up to 50 bps next week

MOSCOW, April 20 (Reuters) - The Russian central bank governor Elvira Nabiullina said on Thursday the bank may cut the key rate by 25 or 50 basis points when it holds its next board meeting on April 28.

The central bank last cut its key rate to 9.75 percent from 10 percent in March.

Speaking at the finance ministry, Nabiullina said the rate cut is possible as inflation, the central bank’s main headache, has already slowed to 4.1 percent as of April 17, staying a touch higher than the bank’s ultimate goal of 4 percent.

Nabiullina also said that daily purchases of dollars for state coffers had a limited impact on the rouble and concerns about higher inflation have not materialised. (Reporting by Darya Korsunskaya; Writing by Andrey Ostroukh; Editing by Jack Stubbs)

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