© Reuters. FILE PHOTO: A Russian state flag flies over the Central Bank headquarters in Moscow, Russia March 29, 2021. A sign reads: “Bank of Russia”. REUTERS/Maxim Shemetov
(Reuters) – The Russian central bank will assess a gradual key rate reduction at upcoming meetings, Governor Elvira Nabiullina said on Thursday.
The central bank’s emergency rate hike to 20% in late February helped stabilise the rouble and overcome a spike in inflation, Nabiullina said earlier, speaking at the lower house of parliament, the Duma.
Now, having cut the rate to 17% in April, the bank is ready for more monetary easing, she said ahead of the April 29 board meeting.
Russian central bank to look at gradual key rate cut at upcoming meetings