Russia’s central bank head: Will consider 50 bps rate cut in July

While speaking in St. Petersburg, Russian  Central Bank Governor Elvira Nabiullina crossed said that the bank will assess the option of a 50 basis points rate cut at its board meeting in July, per Reuters. The bank is scheduled to hold its next meeting on July 26.

Governor Nabiullina further argued that inflationary risks were tilted downside for 2020.

The USD/RUB pair inched higher on these remarks and was last seen trading near 63,50, adding 0.2% on a daily basis.