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Central Bank’s deputy governor admits key rate hike in October

The regulator raised the key rate from 18% to 19% per annum in September

MOSCOW, October 14. /TASS/. The Bank of Russia may increase its key rate at the meeting of the board of directors in October, the regulator’s Deputy Governor Alexey Zabotkin said.

"We admit the possibility of an increase in the rate at the next meeting," he told reporters.

The Central Bank raised its key rate from 18% to 19% per annum in September. The regulator considered an increase in the rate to 20% as an alternative scenario. It also noted the possibility of raising the rate at the next meeting of the board of directors on October 25 as the inflation pressure remained high.

Central Bank Governor Elvira Nabiullina also said at the end of September that the regulator did not rule out the key rate’s further hike in October.

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Central Bank of Russia

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