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Sberbank CEO expects Central Bank to cut key rate to 8% at next board meeting

December 12, 2017, 16:13 UTC+3

The Bank of Russia reduced its key rate to 8.25% per annum in late October

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MOSCOW, December 12. /TASS/. Chief Executive Officer of Russia’s top lender Sberbank expects the Bank of Russia to reduce its key interest rate by 0.25 percentage points to 8% per annum at the next rate view meeting on December 15, 2017.

"The consensus forecast says there will be a reduction by 25 basis points, and I share this expectation," he said at a briefing on Tuesday, adding though that inflation risks persist, which is why the regulator’s conservative policy regarding the rate’s reduction is reasonable.

The Bank of Russia reduced its key rate by 25 basis points to 8.25% per annum at the board meeting in late October. The board also left open the option of further rate reduction at its upcoming meetings.

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