16 Dec 2009 19:37

Kudrin sees potential to cut refinancing rate in 2010

MOSCOW. Dec 16 (Interfax) - Deputy Russian Prime Minister Alexei Kudrin, who is also the country's finance minister, said he saw the potential to cut the refinancing rate in 2010.

"Inflation of 6.5%-7.5% is planned [in 2010] and, accordingly, there is some potential for lowering the rate - not [in what's left of] this year but next year," Kudrin told reporters.

The level to which the rate might be reduced will depend "on the inflow of funds and the current account balance," he said.

Asked whether a rate cut was possible before the end of this year, Kudrin said: "We are not discussing this with the Central Bank - it makes its own decisions."