Russian Central Banker Sees Room to Cut Rates Again on Inflation

Bank of Russia Deputy Governor Alexey Zabotkin said there’s room for interest rates to fall further after an unexpected cut last week as inflation continues to stabilize.

The central bank may lower the benchmark rate from 17%, but the pace of easing will depend on the situation in the economy, Zabotkin told lawmakers in Moscow on Thursday, according to Interfax. While annual inflation last month reached a seven-year high of almost 17%, price growth is slowing on a weekly basis.