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Bank of Russia not ruling out further key rate growth — governor

The regulator made the decision at its meeting on September 13 to lift the key rate by 100 basis points to 19% per annum

SOCHI, September 26. /TASS/. The Bank of Russia is not excluding further increase of the key rate in October, central bank chief Elvira Nabiullina said at the International Banking Forum.

"We increased the rate to 19% in September and do not rule out its raising in October," she said.

The Bank of Russia made the decision at its meeting on September 13 to lift the key rate by 100 basis points to 19% per annum, having indicated that current inflation pressure remains high and annual inflation as of 2024 year-end would probably be above the forecast range of 6.5-7%. The next meeting of the Board of Directors of the Bank of Russian on the key rate is scheduled for October 25.

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Central Bank of Russia

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