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Russia's VTB CEO says key interest rate could be cut by 0.25-0.50 ppts
March 16, 2017 / 7:51 AM / 8 months ago

Russia's VTB CEO says key interest rate could be cut by 0.25-0.50 ppts

MOSCOW, March 16 (Reuters) - VTB Bank Chief Executive Andrei Kostin on Thursday said he thought there was scope for rate cuts in Russia and that the key rate, now at 10 percent, could be cut by 0.25-0.50 percentage points.

Kostin was speaking to journalists on the sidelines of a business forum in the capital.

The Russian central bank also said earlier this month that it sees room for a rate cut in the first half of 2017 as inflation slows down quicker than expected.

Reporting by Denis Pinchuk, writing Dasha Afanasieva, editing by Maria Kiselyova

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