ST. PETERSBURG, June 6. /TASS/. The Bank of Russia may maintain a strict monetary policy longer due to the overheating of the Russian economy, Sberbank CEO Herman Gref told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"The overheating of the economy is obvious, and as long as inflation parameters are high, the Bank of Russia will maintain a strict monetary policy longer than we expected," he said.

Gref also noted that at the moment there are no prerequisites for reducing the key rate, rather, there is a possibility of its increase.

The next meeting of the regulator’s board of directors on the key rate is scheduled for June 7, 2024.

The St. Petersburg International Economic Forum (SPIEF) is held on June 5-8. This year’s theme will be "The Formation of New Areas of Growth as the Cornerstone of a Multipolar World." Scheduled events include meetings for small and medium-sized businesses, creative industries, the SPIEF Youth Day, as well as the Drug Security, SPIEF Academy and SPIEF Junior forums. SPIEF is organized by the Roscongress Foundation. TASS is the information partner of the event.