Russia's central bank will lower its 2022 inflation forecast from 18-23% and sees no risk of a second inflation wave in the autumn, Governor Elvira Nabiullina said on Thursday after the bank slashed rates by 300 basis points to 11%.

Nabiullina said the bank had also considered cutting the key rate to 12% on Thursday and that the inflation outlook would depend on the rouble rate and supply.

She said merger talks between Russia's No. 2 bank VTB and fellow sanctioned lender Otkritie were underway.

(Reporting by Reuters)