Economics
Russia’s Nabiullina Doesn’t Rule Out Rate Cuts Below 4%
- Move isn’t central bank’s base case, depends on environment
- Nabiullina says it’s too early to give signal about next week
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The Bank of Russia is running out of room to cut interest rates at the moment, but could bring its benchmark below 4% if conditions change substantially, Governor Elvira Nabiullina said in an interview.
Bringing the rate to such a low level “isn’t the base case,” she said, declining to give a signal for what the bank will do at its next rate-setting meeting Dec. 18.