World Economy

Russia to Again Cut Rates

Russia to Again Cut RatesRussia to Again Cut Rates

Russia’s Central Bank sees potential for further reduction of interest rates and inflation, its First Deputy Chairman Sergey Shvetsov said, Tass reported. “We don’t see any risks from the side of foreign exchange rate… There is potential for reduction of rates and there is potential for reduction of inflation already by the end of the year,” Shvetsov said. The regulator also said the 7-8% inflation target outlined in its reports, implies the current level of interest rates. “However, we monitor further inflation forecast and exchange dynamics, and we see potential for reduction of interest rates,” he said.