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VTB chief sees prerequisites for key rate reduction to 7%

Currently the key rate of the Bank of Russia stands at 8%

VLADIVOSTOK, September 7. /TASS/. VTB Chief Executive Officer Andrey Kostin sees prerequisites for reduction of the Central Bank’s key rate up to 7%.

"By the way, we believe there are prerequisites for the key rate reduction, even in the near future to 7.5%, and probably further on up to 7%," he said at a session of the Eastern Economic Forum (EEF) on Wednesday.

Currently the key rate of the Bank of Russia stands at 8%. Another meeting of the regulator’s board of directors on the key rate is scheduled for next Friday, September 16.

Organized by the Roscongress Foundation, the Seventh Eastern Economic Forum is running from September 5 to September 8 in Vladivostok. TASS is the event’s general information partner and its official photohost agency. This year, the theme of the forum is: "On the Path to a Multipolar World.".

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