The speaker sees the potential to reduce the Central Bank rate to one-digit level

BEIJING, 10 Nov. The Minister of economic development of Russia Alexei Ulyukayev sees no reason to further reduce the key rate of the Bank of Russia and continues to believe that it is possible to bet out at one-digit level in the first quarter of 2016.

“The grounds for a rate cut. The decision is the competence of Bank of Russia”, — said the speaker reporters. He did not answer the question of whether the Central Bank to cut rates before the end of 2015.

The Bank of Russia on 30 October again did not change its key interest rate, which from August 3 kept at 11% per annum. The Bank of Russia gave a signal to the market that one of the next meetings of the Board of Directors may resume lowering rates in the case of deceleration of inflation. The following, concluding in 2015, the Board of Directors meeting will be held on December 11.

Ulyukayev also noted that the potential to reduce rates to one-digit level in the first quarter of 2016. “I’m keeping my rating”, — concluded the Minister.