Nabiullina says when Central Bank to cut its key rate

Nabiullina says when Central Bank to cut its key rate

The chairperson of Russia’s Central Bank Elvira Nabiullina said that Russia's key rate would be cut as inflation and inflation risks fall.

She drew attention to the important factors in connection with the interest rate, as well as to the fact that it was left unchanged.

"We affect the short money market rates, and long rates are very important in the money market," the head of the Central Bank noted. "During the time that we have left the rate unchanged at 11%, our long rates declined from 11% to 9-9.5% and long rates are tied to expectations of inflation," she explained.

"Therefore, it is important for us to reduce long rates," RIA Novosti cited the head of the Central Bank as saying.

Recall, on March 18, the Bank of Russia has decided to keep its key interest rate at 11% for the fifth time in a row.

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