IMF recommends Russia ease monetary policy gradually

MOSCOW, July 10 (Reuters) - The International Monetary Fund recommended Russia ease monetary policy gradually given the uncertain size of the output gap in the country's economy and risks that inflation would accelerate again, the Fund said in a report on Monday.

The international lender, which restated its forecast for Russian gross domestic product growth of 1.4 percent this year and next, also said the main risk to Russia's economy remained a fall in oil prices.

The IMF added that it saw a need for a credible fiscal rule in Russia to allow for a smoother response to oil price changes and to build adequate savings.

It repeated a call for structural reforms to raise Russia's productivity and the medium-term growth outlook. (Reporting by Alexander Winning; Editing by Andrey Ostroukh)