MOSCOW, December 15. /TASS/. The Bank of Russia considered two options at Friday’s meeting of the board of directors in detail - keeping the rate at 15% and increasing it by 100 basis points, Central Bank Governor Elvira Nabiullina said at a press conference following the meeting.

"Two options were considered in detail: keeping the rate and increasing it by 100 basis points. There were proposals on raising [the key rate] by 200 basis points, though two options were considered in detail," she said.

Earlier on Friday, the board of directors of the Bank of Russia raised its key rate from 15% to 16% per annum at this year’s last meeting, noting that the return of inflation to target in 2024 assume that tight monetary conditions will be maintained in the economy for a long period.

The next meeting on the key rate is scheduled for February 16, 2024.