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Russia head says to consider cutting rate by 25-50 bps in June
June 5, 2017 / 1:42 PM / 6 months ago

Russia head says to consider cutting rate by 25-50 bps in June

MOSCOW, June 5 (Reuters) - The Russian central bank will consider cutting the key rate by 25 or 50 basis points at its board meeting on June 16, the bank’s Governor Elvira Nabiullina said on Monday.

Nabiullina said the central bank could raise an oil price assumption in its base forecast after OPEC and non-OPEC crude oil producers agreed to extend a deal on output cuts.

The central bank last cut the key rate by 50 basis points to 9.25 percent in late April.

Nabiullina also said the share of foreign holders of Russia’s OFZ treasury bonds declined in May compared with April. (Reporting by Elena Fabrichnaya; Writing by Andrey Ostroukh; Editing by Vladimir Soldatkin)

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