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Eastern Economic Forum

Bank of Russia to keep key rate at 12% at upcoming meeting — VTB CEO

The next meeting of the regulator’s board of directors on the key rate will be held on September 15

VLADIVOSTOK, September 12. /TASS/. The Bank of Russia will keep the key rate at 12% at its board meeting that will take place on September 15, Chief Executive Officer of VTB Bank Andrey Kostin told reporters on the sidelines of the Eastern Economic Forum (EEF).

"Considering the current trend of declining exchange rate of the dollar, I think that the Central Bank will hold off so far. I think it will be maintained," he said speaking about the Russian Central Bank’s key rate.

The next meeting of the regulator’s board of directors on the key rate will be held on September 15. The Bank of Russia decided to raise the rate from 8.5% to 12% per annum at an extraordinary meeting on August 15. The decision was made for limiting price stability risks, the regulator explained.

The 8th Eastern Economic Forum (EEF) is being held in Vladivostok on September 10-13, 2023. The slogan for this year’s forum is: On the Path to Partnership, Peace and Prosperity. The Roscongress Foundation is the event organizer. TASS is the EEF’s general information partner.

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Eastern Economic Forum

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