Mar 26, 12:33 PM EDT

Russian minister predicts new interest rate cut


Latest News
Putin says Russia will stand firm in standoff with West

Memorial to Kremlin critic Nemtsov vandalized, then restored

Russian parliament to rule on opposition lawmaker

AP PHOTOS: Russia's Nenets celebrate Reindeer Herders' Day

Russia's heavy drinkers turn to moonshine, cleaning products

Buy AP Photo Reprints
Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
Japan inflation cools, household spending, incomes soften

Russian minister predicts new interest rate cut

German business confidence posts 5th straight increase

Britain's inflation rate falls to zero

Eurozone economy gaining traction as survey near 4-year high

South Sudan economy on edge amid war, low oil production

IMF welcomes Beijing's efforts to boost regional investment

Global watchdog turns a bit more rosy on world economy

Egyptian small investors look for a role

Puerto Rico sells $246 million in bond anticipation notes

Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt
Multimedia
Russia Celebrates Summer Solstice

MOSCOW (AP) -- Russian Economic Development Minister Alexei Ulyukaev says that the country's central bank could cut interest rates next month as the economy stabilizes.

The Bank of Russia raised its key interest rate sharply to 17 percent in December when the ruble crashed to record lows against the dollar, but has since cut it for two months in succession as the ruble recovers some lost value.

In reducing the rate by one point to 14 percent earlier this month, the bank said the risk of inflation prevented a further cut.

Ulyukaev was quoted in Russian media as saying that the rate "may be lowered and colleagues from the Bank of Russia think likewise."

The central bank predicts Russia's economy will contract by between 3.5 and 4 percent this year.

© 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

Latest News
Advertisement