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Bank of Russia may raise key rate to 23% in December — VTB top manager

In October, the Central Bank of the Russian Federation raised its inflation forecast for 2024 from 6.5-7% to 8-8.5%

MOSCOW, November 28. /TASS/. The Bank of Russia may raise the key interest rate by another 2 percentage points to 23% at a meeting of the Board of Directors in December, First Deputy President and Chairman of the Board of VTB Dmitry Pyanov said.

"We forecast an increase [in the rate] in December to 23% and that it will be maintained throughout 2025," Pyanov said during a conference call with reporters.

On October 25, the Board of Directors of the Bank of Russia decided to raise the key rate by 2 percentage points to a record level of 21% per annum. In September, the regulator raised the key rate by 1 percentage point to 19% per annum.

In October, the Central Bank of the Russian Federation raised its inflation forecast for 2024 from 6.5-7% to 8-8.5%. Given the current monetary policy, annual inflation will fall to 4.5-5% in 2025, the regulator believes.

In turn, advisor to the Governor of the Bank of Russia Kirill Tremasov said earlier that that Bank of Russia will consider raising the key interest rate at a meeting in December. "At the December meeting we will consider the forecast for a further increase in the key rate, although this has not yet been predetermined. <...> The forecast for the average annual value of the key rate is 17-20%. However, the Bank of Russia is not obliged to keep the key rate at this level. If the economy continues to develop faster than expected, the rate may be higher, and vice versa," he said, adding that the neutral level of the key rate, at which the economy will be in a state of equilibrium, is expected to be reached in 2027.

"Low inflation, low inflation expectations and price stability will lead to interest inevitably decreasing and this is what we will strive for," he stressed.

He also reported that "under the conditions of constant sanctions pressure, exchange rate volatility, pro-inflationary pressure is growing". "A long period of tight monetary policy will be needed to restore price stability," Tremasov said.

The next meeting of the Board of Directors of the Bank of Russia on the key rate will be held on December 20.

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Groundless attacks on Russian journalists become trend in West — TASS

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Europe not yet seriously considering sending its servicemen to Ukraine — magazine

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Zelensky shook up by Russia’s response to permission to attack it — Lavrov

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The Russian leader also mentioned military facilities and defense industry enterprises as possible targets

Russia files terrorism charges against Ukrainian militants, reports enemy losses in Kursk

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NATO spies study damage from Oreshnik at Yuzhmash — expert

Alexander Stepanov emphasized that both Kiev and its Western allies are closely scrutinizing the consequences of the strike on the plant

Oreshnik’s massive strike comparable to nuclear weapons — Putin

The Russian leader additionally stressed that "certainly, Oreshnik is not a weapon of mass destruction"

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Kazakh president describes Putin’s state visit as ‘historic event’

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"As I have repeatedly said, we will always respond," the president emphasized

Russia designs Titan rifle for commandos

The rifle is reliable with precise and dense fire

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Unidentified UAVs continue to appear over US Air Force bases in UK — newspaper

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Russia’s top diplomat slams NATO for discussions of preemptive strikes on Russia

"These claims were made by some admiral. Absolutely reckless. They have a lot of high-ranking military officials who have never even seen real battle," Sergey Lavrov stated

Senators support Putin's decision to launch Oreshnik missile — speaker

Valentina Matviyenko noted that the Federation Council is willing to further support actions aimed at protecting Russia

Russian diplomat says West sought to misrepresent Oreshnik strike, cast it as aggression

Maria Zakharova pointed out that for some, this was obviously a sobering moment, while for others it came as an unexpected surprise

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Slovak PM accepts Putin's invitation to attend Victory Day festivities in Moscow next year

Robert Fico pointed out that "the Red Army and the peoples of the former Soviet Union made the greatest contribution to the defeat of fascism and the victory in World War II"

Bank of Russia sets dollar rate at 108.01 rubles for November 28

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Russian forces wipe out five ATACMS launchers using Iskander missiles

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US cutting aid to become death sentence for Ukraine — Russia’s mission to UN

According to Dmitry Polyansky, the Kiev authorities "have stolen so much in these almost three years that even many Western experts' hair stands on end"

Kiev troops attempted to kill British mercenary who surrendered to Russians — officer

In his words, they fired conventional 120mm mortar rounds, silent munitions and at least one FPV drone with a fragmentation charge

Hungarian PM’s office rules out his trip to Moscow for 80th anniversary of Victory

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Ukraine requests to buy weapons from South Korea — TV

The South Korean government had "no enthusiasm" about the proposal, the report says

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One in three relocated individuals return to Russia from Ukraine — diplomat

Maria Zakharova pointed out that the Kiev regime itself brands these figures as "terrible"

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Ukrainian group of 22 servicemen surrenders in Kursk Region — law enforcement officials

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Sergey Ryabkov advised the new US administration and President-elect Donald Trump to treat this issue "with all seriousness"

Oreshnik becomes serious problem for Ukraine — Polish general

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Belarusian President Lukashenko points to 'NATOfication' of Europe, entire world

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Bank of Russia halts foreign currency purchases from November 28 until year end

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Putin declares Kazakhstan visit a success

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West should read Russia's transparent nuclear doctrine carefully — top security official

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Alexander Stepanov pointed out that "this also applies to intermediate-range high-precision systems such as the Tomahawk and other weapons that NATO countries may provide to Ukraine"

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West should consider Russia’s signal on weapons, no point in discussing details — MFA

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Strike on NATO bases possible in case of escalation, Medvedev says

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Russia to thwart any missile attacks on its territory — Medvedev

The Russian Security Council Deputy Chairman stressed that "what is happening now crosses all red lines," referring to American ATACMS tactical ballistic missiles attacks on Russia

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Press review: Energy talks as Putin visits Astana and Biden requests more aid for Kiev

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Western analysts describe Russia's Oreshnik as longest-range weapon ever used in Europe

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Several Oreshnik missiles equivalent to nuclear strike, do not harm environment — Putin

The Russian president still reiterated that such a strike is not nuclear, because it is highly accurate and not equipped with a nuclear explosive device

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