February 9, 2017 / 12:32 PM / 8 months ago

Russia c.bank may cut rate in 0.25 bps steps

MOSCOW, Feb 9 (Reuters) - The Russian central bank will consider cutting the key rate in 0.25 percentage point steps once it reaches single-digit levels, Governor Elvira Nabiullina said on Thursday.

Nabiullina also said the central bank is likely to revise economic forecasts and raise an average oil price factored in its three-year plan from $40 per barrel.

Nabiullina is set to hold a press-conference on March 24 where she will present a new set of forecasts and a decision on the key rate, which is now at 10 percent. (Reporting by Elena Fabrichnaya; Writing by Andrey Ostroukh; Editing by Jack Stubbs)

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