ST. PETERSBURG, July 4. /TASS/. At a meeting on July 26, the Board of Directors of the Bank of Russia will clarify a number of parameters of the macroeconomic forecast, including the revision of the upward trajectory of the key rate. Deputy Chairman of the regulator Alexey Zabotkin told reporters.

"The trajectory of the key rate is highly related to the course of inflation and the intensity of inflationary pressure, so an upward revision of the inflation forecast, if it is associated with stable factors on the demand side, inevitably entails an upward revision of the key rate trajectory," he said.

He added that the arguments for maintaining the key rate at the July meeting of the Board of Directors of the regulator have noticeably weakened.

The next meeting of the Board of Directors of the Bank of Russia, at which the key rate will be considered, is scheduled for July 26. At the meeting on June 7, the regulator left the key rate unchanged at 16% per annum, but signaled its possible increase.