MOSCOW, August 14. /TASS/. The Bank of Russia will hold the first extraordinary meeting of its Board of Directors on the key rate this year on August 15, 2023.

On February 10, at the first Board meeting on the key rate issue in 2023, the decision was made to keep it at the level of 7.5% per annum. The regulator noted in its press release that inflation expectations of households and the business went down. The Central Bank forecast inflation to be 5-7%.

The key rate remained unchanged in conclusion of meetings on March 17, April 28 and June 9. However, the Central Bank admitted the possibility of increasing it due to stronger inflation pressure.

On July 21, the regulator raised the key rate to 8.5%.