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Key rate increase may be needed at next Board meeting — Central Bank

The Central Bank made the decision earlier to keep the key rate at 7.5% per annum for the fifth consecutive time

MOSCOW, April 28. /TASS/. The key rate increase may be needed at the forthcoming Board meeting if the Bank of Russia sees signs of inflation acceleration, Central Bank chief Elvira Nabiullina said at the press conference on Friday.

"If we notice signs of such inflation acceleration that will pose a threat to achieving the 4% target in 2024, then we will need to increase the key rate as early as at coming meetings," she said.

The Central Bank made the decision earlier to keep the key rate at 7.5% per annum for the fifth consecutive time.