The Central Bank pointed to the probability of raising the key rate in December

The Central Bank of Russia (CBR) will consider another increase in the key rate at the meeting of the Board of Directors to be held on December 20. This was announced by Kirill Tremasov, Advisor to the Chairman of the Bank of Russia, at the Perm Engineering and Industrial Forum on November 28.

"At the December meeting, there is little doubt that the Central Bank's board of directors will consider a further increase in the key rate. Although this decision is not predetermined," Interfax reports his words .

According to Tremasov, the key rate increase is a measure to combat rising inflation. The representative of the Central Bank also noted that it may go beyond the Central Bank's forecast of 8.5%.

The Central Bank intends to make every effort to restore price stability and inflation to the target, summarized Tremasov.

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On October 25, the Central Bank raised the key rate to 21%. At the same time, the regulator allowed further rate increases, noting that pro-inflationary effects cause additional budget expenditures and expansion of the federal budget deficit.