Nabiullina announced plans to consider lowering the key rate in July.

The Central Bank of Russia will consider lowering the key rate in July, unless unforeseen circumstances arise. This was announced on Thursday, July 3, by the head of the Central Bank of the Russian Federation, Elvira Nabiullina.

"If nothing unforeseen happens, if the trends that have now formed continue, then we are more likely to consider a reduction in the [key] rate," Nabiullina said at a briefing at the Financial Congress of the Bank of Russia.

She also stressed that the Central Bank of the Russian Federation sees a slowdown in inflation, "and in a stable component" and "faster than we expected in the previous forecast."

"Any solution is not guaranteed. Including that there will definitely be a rate cut. Everything will depend on what data will be received by that time," the head of the Central Bank of the Russian Federation added.

Nabiullina noted that the impact of the June decline in the key indicator is already affecting the economy, in particular, market rates.

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What measures are we talking about and what does the business expect?

The day before, Nabiullina said that the slowdown in inflation in Russia is proceeding faster than expected. According to her, if the indicators show a faster slowdown in the economy, then the regulator will have room for a faster rate cut.