ST. PETERSBURG, June 6. /TASS/. No significant spikes of the ruble rate are expected until the end of the year, Sberbank CEO Herman Gref said on the air with Rossiya-1 television at the St. Petersburg International Economic Forum (SPIEF).

"We do not forecast any significant ruble spikes until the end of the year. Our forecast was that the ruble would be in the range of 90-95 [per dollar]," Gref said.

The situation with the key rate is "much more complicated," Gref noted. "As soon as inflation goes down, rates will also decline; everybody is waiting for that," he added.