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Elvira Nabiullina, president of the Russian Central Bank, said Thursday that the central bank would consider cutting interest rates at its July Council meeting, with options of 50 basis points.
Nabiulina said that the central bank usually makes interest rate decisions at meetings, and the press conference is held after every two central bank meetings.
Nabiulina said the central bank did not rule out a 7.50% increase in the current benchmark interest rate at the Council meeting on July 26. However, no press conference will be held after the meeting.
"In July, we will also consider the possibility of reducing interest rates."
In an interview with Reuters earlier, Nabiulina said that the Central Bank of Russia plans to end the easing monetary cycle by mid-2020 and will tend to cut interest rates in small steps.
Nabiulina reiterated on Thursday that the central bank is inclined to cut interest rates by small steps. She said, but did not rule out a 50 basis point cut in interest rates.
"At the last meeting, we considered this possibility (50 basis points of interest rate reduction), so we will definitely consider this option," Nabiulina said of the July meeting.

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