MOSCOW, August 9. /TASS/. The Bank of Russia admits an increase in the key rate as early as at the next meeting of its board of directors, the regulator’s Deputy Governor Alexey Zabotkin said in an interview with Izvestiya daily.

"The lower value of the forecast of the key rate range by the end of the year of 8.5% permits possible permanency of the rate. However, considering the previous experience of communication, if the board of directors in the press release admits the possibility of the rate’s increase at the next meetings, it will possibly be done as early as at the next one," he said.

"The monetary policy is aimed at bringing back and stabilizing inflation at the targeted level of 4% in the long-term," Zabotkin added.

"An increase in the rate that will be required for solving this task, is ultimately implemented. And considering all prerequisites, more than one increase (in the key rate - TASS) in July will most likely be required," he noted.

At the latest meeting on July 21, the board of directors of Russia’s Central Bank raised the key rate from 7.5% to 8.5% per an annum.

The next meeting of the Bank of Russia’s board on the key rate will be held on September 15.