October 12, 2016 / 7:56 AM / a year ago

Russia cenbank: key rate to fall to 6-7 pct at inflation of 4 pct

MOSCOW, Oct 12 (Reuters) - The Russian central bank will bring its key rate to 6-7 percent once inflation slows to 4 percent, the bank’s Governor Elvira Nabiullina said on Wednesday.

Speaking at an economic forum, Nabiullina said the central bank will aim at keeping interest rates above inflation, which is still very high. (Reporting by Katya Golubkova; Writing by Andrey Ostroukh; Editing by Lidia Kelly)

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