MOSCOW, June 19. /TASS/. The room for further key rate reduction diminished, Governor of the Bank of Russia Elvira Nabiullina said at the press conference after the Board meeting.

"Almost all the participants noted at the same time that the space for further [key] rate reduction became narrower but the extent of its narrowing would probably be the matter for discussions at the next meeting," she said.

Earlier today, the Bank of Russia slashed the key rate to 14.25% per annum.