Russia's Economic Ministry sees room for central bank key rate reduction

Russia's Economic Ministry sees room for central bank key rate reduction

The Russian Central Bank can reduce its key rate further, the country's Economic Development Minister Maxim Oreshkin said.

"We see that the central bank has already cut the rate twice. Based on all of the central bank’s communications, it is preparing to do it again," the minister told Business FM during the Eastern Economic Forum.  

The central bank lowered the key rate by 0.25 percentage points in June and by 0.25 percentage points in July to 7.25% annually. 

The next meeting on the issue will take place on September 6.

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