MOSCOW, October 27. /TASS/. The Bank of Russia has increased the estimate of the neutral key rate level to 6-7%, central bank chief Elvira Nabiullina said at the press conference after the Board meeting.

"Since the budget policy of coming years is generally more stimulating than expected earlier, we also increased the estimate of our neutral key rate level to 6-7%," Nabiullina said.

The decision to increase the key rate to 15% is a necessary step to ensure price stability, she stressed. "That is, we need a higher key rate against all other things being equal in order to ensure price stability," she added.