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Russia May Be in Position to Cut Rates in June, Ulyukayev Says

May 13 (Bloomberg) -- Risks to economic growth coupled with forecasts that inflation may slow mean lower rates may be appropriate, Russian Economy Minister Alexei Ulyukayev tells reporters in Kaliningrad. * Ulyukayev says he would “probably” cut at next meeting * Ulyukayev says March increase of 150bps was “absolutely

correct,” not sure 50bps increase in April was right move * Russia faces risk of technical recession as GDP may be flat

or contract 0.1% q/q in 2Q after 0.5% q/q drop in 1Q:

Ulyukayev * Russian inflation set to peak at 7.5%-7.6% in May or June

before slowing to 6%-6.5% by late 2014, early 2015 * Russia may review state asset sale plans given changing

economic, political climate, Ulyukayev says * Ulyukayev says sanctions effect on economy hard to measure,

though fear of sanctions is greater than sanctions

themselves * NOTE: Ulyukayev was first deputy central bank chairman for

monetary policy until joining Economy Ministry last yr * NOTE: April 25 Russia unexpectedly raised key rate 2nd time

this yr: {NSN N4LGYF6KLVR8 <go>}

For Related News and Information: First Word scrolling panel: {FIRST<GO>} First Word newswire: {NH BFW<GO>}

To contact the reporter on this story: Olga Tanas in Kaliningrad at +7-495-771-7705 or

To contact the editor responsible for this story: Scott Rose at +7-495-771-7719 or

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