YEREVAN, September 4. /ARKA/. Andrey Kostin, the CEO of Russia’s VTB bank, was quoted Friday by Prime as saying that the central bank’s key rate may be lowered before the end of this year, but it is not the best moment now for doing that.
Asked by RIA Novosti under what rate the VTB intends to end this year without losses, Kostin said «We hope to end this year without losses, and we think the rate may be downed to 9-10 percent, but maybe this is not a good time for lowering the rate.»
Now the key rate stands at 11%. Kostin thinks Russia can down the rate later, in the autumn. He said he didn’t expect that the regulator would down the rate at its next session. –0–
