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Eastern Economic Forum

Bank of Russia may raise key rate to 20% in September

"The Bank of Russia is acting professionally, with restraint, understanding that one of its main tasks is to ensure the stability of the ruble, the level of inflation, and the key rate is its main tool," Anatoly Aksakov said

MOSCOW, September 3. /TASS/. The Bank of Russia may raise the key interest rate to 20% in September if the inflation trend continues to rise, Head of the State Duma Committee on Financial Markets Anatoly Aksakov said in an interview with TASS.

"The Bank of Russia is acting professionally, with restraint, understanding that one of its main tasks is to ensure the stability of the ruble, the level of inflation, and the key rate is its main tool. The Central Bank has raised it to 18%, and I do not rule out that in September, it could raise it to 20% if the inflation trend continues to rise. If prices continue to rise, the Central Bank may raise the key rate, if not in September, then at the next meeting when this issue will be on the agenda," Aksakov said at the start of the Eastern Economic Forum (EEF).

The EEF is one of the largest international conferences in Russia. It has been held in the Primorsky Region’s Russky Island in Vladivostok since 2015. The Forum is the initiative of Russian President Vladimir Putin, who decreed that the event be held annually. The forum's objectives and goals include promoting the accelerated growth of Russia’s Far East region; assessing its potential for exports; expanding international cooperation in the Asia-Pacific Region; showcasing the investment appeal of the region, its steadily progressing territories, and the Vladivostok free port.

The Roscongress Foundation has served as the Forum’s organizer since 2016. TASS is the general information partner of the EEF.

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Central Bank of Russia Eastern Economic Forum

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