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Russia’s Central Bank to continue cutting key rate though probably by 'smaller steps'

June 15, 2015, 17:58 UTC+3 MOSCOW
Central Bank Chief pointed to inflationary risks, the need to watch the situation with investments, unemployment and consumption level
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© ITAR-TASS/ Sergei Bobylev

MOSCOW, June 15. /TASS/. The Bank of Russia will continue cutting its key interest rate though the regulator assumes it’s untimely to speak about the scale and rates of its decrease, Central Bank Chief Elvira Nabiullina said Monday.

"The fact that we spoke about the key rate decrease potential being lower than at the beginning of the year means that we will not necessarily act by the same big steps and not necessarily at each meeting," she said, adding that everything will depend on the situation, which is very uncertain now.

Central Bank Chief pointed to inflationary risks, the need to watch the situation with investments, unemployment and consumption level.

"As of now taking into account our forecasts we see that we will further cut the key interest rate," she said, adding that the size and the rates are not evident yet.

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