20 Mar 2020 16:39

CBR sees potential for further key rate cuts in medium term; short-term proinflationary factors prevail - Nabiullina

MOSCOW. March 20 (Interfax) - The Central Bank of Russia (CBR) sees the potential for further key rate cuts in the medium term, but proinflationary factors prevail in the short term, Russian Central Bank Governor Elvira Nabiullina said on Friday during an online conference.

"We certainly do see the potential for a further reduction in rates in the medium term. I have already said that our assessment of the medium-term situation has shifted to where we could see disinflationary factors prevail. However, short-term inflation factors prevail, and there is instability on the financial markets that we are talking about. As to when we could again consider the possibility of lowering rates depends on the development of the situation, which we will monitor," Nabiullina said.

Nabiullina said that it would be inappropriate for the CBR "to name some dates now."