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Russian central bank governor speaks after cutting interest rates

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Reuters UK

(Reuters) -Bank of Russia Governor Elvira Nabiullina gave a news conference after the central bank cut its key interest rate by 1.5 percentage points to 8% on Friday. Nabiullina spoke in Russian. The quotes below were translated by Reuters. CURRENCY POSITION “The Bank of Russia sees a positive trend in the process of reducing the value of foreign currency balances in the accounts of the NCC (National Clearing Centre) and the NSD (National Settlement Depository). “Although we have temporarily introduced regulatory relief on the currency position for banks that are under sanctions … they must …

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