MOSCOW, September 16. /TASS/. The cycle of the key rate reduction is most probably close to its end now, Russian Central Bank Governor Elvira Nabiullina told a press conference following the meeting of the regulator’s board of directors on the key rate on Friday.
"The cycle of the [key] rate reduction is most probably close to its end. Many signs are emerging that the current inflationary pressure is no longer decreasing, and amid this environment we consider it reasonable to remain in the zone of neutral policy," she explained.
Earlier on Friday the board of directors of the Central Bank decided to cut its key rate by half a percent to 7.5% per annum.