Key rate increase probability is high — Bank of Russia
The Board of Directors of the Central Bank increased the key rate to 8.5% per annum at the last meeting on July 21.
The probability is high that the Central Bank will increase the key rate at the forthcoming Board meeting in September, deputy governor of the Bank of Russia Alexey Zabotkin said at as press conference.
"Inflation is in the upper half of the forecast range. The forecast range, as I have already reminded today, is from 5 to 6.5%. The Board of Directors already stated on July 21 in the context of that for the probability of the rate increase that it assumes the possibility of further raising the rate at the coming meetings. Such wording traditionally means high probability of increasing as early as at the next meeting," Zabotkin said.
The Board of Directors of the Central Bank increased the key rate to 8.5% per annum at the last meeting on July 21. The next meeting of the Board on the key rate will be held on September 15.
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The probability is high that the Central Bank will increase the key rate at the forthcoming Board meeting in September, deputy governor of the Bank of Russia Alexey Zabotkin said at as press conference.
"Inflation is in the upper half of the forecast range. The forecast range, as I have already reminded today, is from 5 to 6.5%. The Board of Directors already stated on July 21 in the context of that for the probability of the rate increase that it assumes the possibility of further raising the rate at the coming meetings. Such wording traditionally means high probability of increasing as early as at the next meeting," Zabotkin said.
The Board of Directors of the Central Bank increased the key rate to 8.5% per annum at the last meeting on July 21. The next meeting of the Board on the key rate will be held on September 15.
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