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Bank of Russia unlike to reduce key rate tomorrow — VTB

The meeting of the Board of Directors of the Bank of Russia on the key rate will be held on April 26

MOSCOW, April 25. /TASS/. The Bank of Russia will most probably keep the key rate at its Board meeting yesterday but may start lowering it in the third quarter of this year, VTB CEO Andrey Kostin told reporters on the sidelines of the congress of the Russian Union of Industrialists and Entrepreneurs.

"I think the Central Bank will not reduce - may be it is proper that it will keep - the [key] rate now. We believe [it will be lowered] in the third quarter," the chief executive said.

The meeting of the Board of Directors of the Bank of Russia on the key rate will be held on April 26.

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