Russia's central bank says rate hike is more likely than cut this year

Russian Central Bank Governor Elvira Nabiullina said on Thursday that a hike in interest rates some time this year was more likely than a cut.

The central bank held rates at 7.5% in a meeting last Friday, but said it was concerned about growing inflationary trends and signalled it was preparing to raise rates in the coming months. (Reporting by Elena Fabrichnaya; Editing by Alison Williams)