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Russian government would welcome bigger Central Bank rate cuts

First Deputy Prime Minister and Minister of Finance Anton Siluanov said that there are conditions for reducing the key rate faster

WASHINGTON, October 19. /TASS/. The Russian Government would only welcome a faster decrease of the Central Bank key rate; there are conditions for this, First Deputy Prime Minister and Minister of Finance Anton Siluanov said on the sidelines of a meeting of the International Monetary Fund (IMF) and the World Bank.

"We would only welcome it. Why? Because it will provide an additional opportunity for borrowing, cheap money," Siluanov said.

He said that there are conditions for reducing the key rate faster. "Our inflation will be lower this year than we planned. We say that it will be 3.5-3.6%. Next year, in general, we have 3% in the basic forecast and 4% in the target forecast," Siluanov explained.

Earlier, the Central Bank Governor Elvira Nabiullina said that inflationary factors and other incoming data could push the regulator to change monetary policy more decisively.