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Russian central bank governor speaks after cutting key rate to 7.5%

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Russian Central Bank Governor Elvira Nabiullina and deputy governor Alexei Zabotkin gave a news conference after the central bank cut its key rate by half a point to 7.5% on Friday.

The central bank officials spoke in Russian. The quotes below were translated into English by Reuters.

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NABIULLINA ON RATE CUT

“We assess that that we are in the zone of a neutral monetary policy.”

“The room for a further rate cut is shrinking.”

NABIULLINA ON INFLATION

“We do not rule out that annual inflation in first-half 2023 will be below 4%.” (Reporting by Reuters; editing by Guy Faulconbridge and Kevin Liffey)



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