Sber admitted raising the key rate in December

"Sber" admits raising the key rate of the Central Bank (CB) at the December meeting by 1-2 percentage points. This was reported to journalists on December 2 by Kirill Tsarev, First Deputy Chairman of the Bank's Management Board, on the sidelines of the Domclick Digital Forum.

"There is a high probability of raising the rate, for example, by 1 or 2 p.p., because we see that inflation still remains relatively high, and the income level of the population is also in principle quite steadily growing," he pointed out, his words quoted by TASS.

Tsarev added that in this regard, the probability that the rate will be raised is higher than the possibility of keeping it at current levels.

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Earlier, on November 28, Kirill Tremasov, Advisor to the Chairman of the Bank of Russia, said that the Central Bank will consider another increase in the key rate at the meeting of the Board of Directors to be held on December 20. According to him, the key rate increase is a measure to combat rising inflation.

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.