Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev, who is also the Russian special presidential representative for investment and economic cooperation with foreign countries, said on Friday that the Russian Central Bank's reduction of the key interest rate by 1 percentage point to 17% gives prospect for new investments and economic growth.
"This opens the way for new investments and growth, and allows the economy to evolve more dynamically. We hope for a further reduction of the key rate," Dmitriev said on Telegram.
Earlier in the day, the governor of the Russian Central Bank, Elvira Nabiullina, said that the bank's decision on the key rate in October will largely depend on budget parameters. She added that the Central Bank assumes Russia's budget will be disinflationary by the end of 2025, but is waiting for amendments to it.