MOSCOW, August 14. /TASS/. The Bank of Russia may raise the key rate to 9.5-10.5% at the extraordinary Board meeting on Tuesday, experts questioned by TASS say.

The Bank of Russia said earlier today that the extraordinary Board meeting of the regulator on the key rate would take place tomorrow, on August 15.

"The demand for import should be cooled down in the current situation, applying pressure on lending. Among other things, this can help to stop the ruble weakening wave," Vasily Karpunin from BCS Investment World said.

The extraordinary meeting of the Central Bank is appropriate since the dollar might grow to 120 rubles and more without urgent action by the next Board meeting scheduled on September 15, Freedom Finance Global noted. "Since the dollar rate is above 100 rubles and the euro rate crossed the level of 11 rubles, the decision of the Central Bank of Russia to take urgent measures for stabilization of the national currency without waiting for September appears quite expectable," Natalia Milchakova from Freedom Finance Global said.

The rate will be lifted rather dramatically, from 8.5% at present by 200 basis points (bp) to 10.5%, NRA predicts. PSB, Finam, BCS Investment Word and Freedom Finance Global believe the regulator will increase the rate by 150 bp to 10% and will then continue toughening monetary conditions until the end of the year.