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Key rate lowering not warranted at July meeting — Bank of Russia

Governor Elvira Nabiullina said the regulator will nevertheless consider key rate lowering with greater probability if current trends remain in the national economy

ST. PETERSBURG, July 3. /TASS/. Key rate lowering is not warranted at the meeting to be held in July and the Bank of Russia will analyze the situation, Governor Elvira Nabiullina told reporters at a briefing within the framework of the Financial Congress of the Bank of Russia.

"We will act in accordance with data very cautiously and no decision is guaranteed, including the definite lowering of the key rate. Everything will depend on data received by that time. I would elect not to make any forecasts so far," she said.

The Bank of Russia will nevertheless consider key rate lowering with greater probability if current trends remain in the national economy, Nabiullina added.

TASS is the information partner of the congress.

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