Central Bank of Russia still considers rate reduction possible from H2 2024 - Nabiullina

MOSCOW. March 22 (Interfax) - The Central Bank of Russia still thinks it will be able to start lowering the key rate in the second half of the year, CBR Governor Elvira Nabiullina said at a press conference.

"We discussed the key rate trajectory. Reduction can begin after we are convinced there has been a sustainable drop in inflation. So far, by our estimates, this is more likely to happen in the second half of the year," Nabiullina said.

"Inflation dynamics and the balance of risks for its forecast are key factors for choosing the future trajectory of the key rate, including the timing of a possible transition to a rate reduction," she said.