Russian central bank governor Nabiullina with a prepared statement 24 March

  • we don't exclude cutting rates at every meeting, not just ones with press conf
  • economic recovery doesn't create significant inflation
  • consumer demand to rise in Q2
  • capital outflow to remain low
  • situation on FX stable
  • official reserves to rise by $23bln this year, at adequate level
  • downward pressure on oil price could come from shale production

Earlier the CB cut key rate to 9.75% from 10.0%

USDRUB currently 57.1375 from 57.50 pre rate cut.