May 8, 2020 / 12:31 PM / 21 days ago

Russia c.bank governor says 100 basis point rate cut possible in June

MOSCOW, May 8 (Reuters) - Russia could cut its benchmark interest rate by as much as 100 basis points from 5.5% at its next rate-setting meeting in June, Central Bank Governor Elvira Nabiullina said on Friday.

“If the situation develops as it is now, the option of a 100-basis-point cut will also be considered, of course, alongside other alternatives,” said Nabiullina. She added that the budget deficit is seen at 5-6% of gross domestic product this year. (Reporting by Andrey Ostroukh and Elena Fabrichnaya, Writing by Alexander Marrow, Editing by Mark Heinrich)

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