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Bank of Russia does not rule out increase of key rate by year-end

The Bank of Russia has one meeting on the key rate left in 2023

MOSCOW, October 27. /TASS/. The Bank of Russia does not exclude that the key rate will be kept or increased by the end of this year, Governor of the Central Bank Elvira Nabiullina said at the press conference after the Board meeting.

"We have one meeting on the key rate left - there is an option of keeping the [key] rate or increasing it," she said.

The Bank of Russia raised the key rate by 2 percentage points to 15% per annum on October 27, having indicated that the current inflation pressure became much stronger.