MOSCOW, June 28. /TASS/. First Deputy Chairman of the Management Board of VTB Dmitry Pianov expects the Russian Central Bank’s key rate to be raised by 100 basis points in July to 17% per annum.

"I believe that we will definitely see the rate raised. <…> The key rate hike will most likely total 100 basis points to 17% at the next meeting," he told reporters.

The banker also admitted that the key rate might go even higher by the end of the year.

The next meeting of the board of directors of the Bank of Russia on the key rate is scheduled for July 26, 2024.