Of the Central Bank in June will consider reducing rate by 25 or 50 basis points


Moscow. June 5. INTERFAX.RU – CBR at the next meeting of the Board of Directors on matters of monetary policy will consider reducing key rates by 25 basis points (b.p.), and 50 b.p. said the head of the Bank of Russia Elvira Nabiullina to journalists in the state Duma. The next meeting of the Board of Directors at the rate of will be held on June 16 and will be the reference.

“We will consider two options (a reduction of 25 bps.p. and 50 b.p.). Will make his decision on the basis of traditional analysis of inflation indicators, inflation expectations, economic situation, unemployment. Now there is an intensive preparation for this meeting, we will choose,” she said.

“We will look at all the factors and trends at the meeting of the Board of Directors, we are really discussing at the meetings of the Board of Directors”, – said Nabiullina.

It noted that inflation expectations – an important factor when deciding on a rate, but not the only one.

“I want to emphasize again that our decisions in monetary policy operate with lags, and is very important for us not only the actual dynamics of inflation, inflation expectations, economic growth, unemployment, and our predictions under the influence of various factors – positive or negative. Therefore, we will do a comprehensive evaluation, it is impossible to snatch out one factor and say that on the basis of the positive dynamics we will take a decision”, – said Nabiullina.

It noted that inflation expectations continue to decline, “although they are still above our target”.

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