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Russian central bank says may cut rate at upcoming meetings

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05/26/2020 | 03:33am EDT

The Russian central bank sees room for a cut to its interest rates at upcoming meetings, the bank's monetary policy chief Alexei Zabotkin said on Tuesday.

Zabotkin said disinflationary factors would dominate in 2020 and in early 2021, describing the recent inflation acceleration as temporary.

An expected rate cut from 5.5% <RUCBIR=ECI> at the next board meeting on June 19 has already driven prices for Russian treasury bonds, popular among foreign investors, to all-time highs. The meeting after that is scheduled for July 24.

(Reporting by Elena Fabrichnaya; Writing by Andrey Ostroukh; Editing by Alison Williams)

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