Nabiullina sees potential for further monetary policy easing in Russia

Nabiullina sees potential for further monetary policy easing in Russia

Russia's Central Bank sees potential for easing its monetary policy, chairperson Elvira Nabiullina said at a meeting with the State Duma.

"What will our monetary policy be in the forthcoming period? Taking into account the factors known today, there is still potential for easing," she said.

Nabiullina noted that the central bank will not "make key rate decisions automatically, trying to reduce it as low as possible."

"We will assess the influence on inflation of our previous decisions to cut the rate, the data on the state of the Russian and global economies, the pro-inflation risks… and of course, budget policy decisions before each meeting of the board of directors," PRIME cited the bank's chairperson as saying.

On October 25, the Russian Central Bank cut the key rate by 50 basis points to 6.5%.

The next meeting of the Board of Directors of the Central Bank, at which the key rate will be discussed, will be held on December 13, 2019.

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