1 Feb 2016 12:03

Ulyukayev sees possibility for rate cut this year

MOSCOW. Feb 1 (Interfax) - Russian Economic Development Minister Alexei Ulyukayev believes that the Central Bank's key interest rate could be lowered this year.

"I think that this is possible," the minister told reporters on Monday, when asked if he expects the Central Bank to cut the key rate this year.

However, Ulyukayev did not comment on the question of whether he believes the key rate might be lowered in the first half or if this will only become possible in the second half of the year.

The Central Bank's board of directors decided to leave the rate unchanged at 11% at its meeting on Friday, warning that monetary policy could be tightened if inflation risks intensify.

Ulyukayev said he had expected that decision.