Senior official at the Central Bank of Russia: The possibility of another interest rate cut within the year is still uncertain, and the inflation trend is crucial.

A senior official from the Russian Central Bank said on Thursday that although the possibility of further interest rate cuts this year cannot be ruled out, the Central Bank may still maintain the benchmark interest rate at the current high level of 18% to ensure sustainable slowing of inflation. Andrei Gagan, head of the monetary policy department of the Russian Central Bank, outlined the interest rate outlook in an interview with the Russian newspaper. He pointed out that if the level of inflation can decrease rapidly, the Central Bank may consider implementing interest rate cuts within the year. However, he also emphasized that a rate cut is not guaranteed, and maintaining the current rate is also an option, depending on the actual performance of inflation and changes in risk. Gagan reiterated, "There are still many risks, including geopolitical tensions, and we will closely monitor the data to make cautious decisions on interest rates."