March 24, 2017 / 12:45 PM / 5 months ago

Russian c.bank: 25 basis point rate cut not necessarily new norm

MOSCOW, March 24 (Reuters) - Russian Central Bank Governor Elvira Nabiullina said on Friday that a 25 basis point rate cut was not necessarily the new norm, signalling that the bank would keep all options open in future.

Speaking at a quarterly briefing, Nabiullina also said that the central bank would take a decision on increasing its gold and foreign exchange reserves when risks to its inflation target disappeared.

The central bank aims to hit an inflation target of 4 percent by the end of this year. On Friday, the central bank cut its key rate by 25 basis points to 9.75 percent and signalled more cuts ahead. (Reporting by Andrey Ostroukh and Alexander Winning; Writing by Katya Golubkova; Editing by Andrew Osborn)

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