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Russian central bank to look at gradual key rate cut at upcoming meetings

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FILE PHOTO: A Russian state flag flies over the Central Bank headquarters in Moscow
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(Reuters) - The Russian central bank will assess a gradual key rate reduction at upcoming meetings, Governor Elvira Nabiullina said on Thursday.

The central bank's emergency rate hike to 20% in late February helped stabilise the rouble and overcome a spike in inflation, Nabiullina said earlier, speaking at the lower house of parliament, the Duma.

Now, having cut the rate to 17% in April, the bank is ready for more monetary easing, she said ahead of the April 29 board meeting.

(Reporting by Reuters)

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