ALMATY, November 15. /TASS/. Russia’s Central Bank will increase the key rate again unless it sees sustainable slowdown of inflation and inflation expectations' cooling, the regulator’s Deputy Governor Olga Polyakova said.

"At recent meetings we have increased the key rate by notable rates, having raised it by 7.5% p.p. over the past period to 15% per annum. We are ready to do it again if necessary unless we see signs of sustainable slowdown of inflation and cooling of inflation expectations," she said.

The Central Bank’s board of directors increased the key rate by 2 percentage points at once at its October meeting to 15% per annum, noting a considerable rise in the current inflation pressure. In October the regulator also upgraded its inflation outlook for 2023 to 7-7.5% from 6-7% projected earlier. Considering the current monetary policy, the Bank of Russia expects annual inflation to go down to 4-4.5% in 2024 and remain close to 4% in the future.