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The Central Bank has allowed for the possibility of raising the key rate in October
"We recognize the possibility of raising interest rates at the next meeting," RIA Novosti reported.
The next meeting of the Central Bank is on October 25. We will present an updated medium-term macroeconomic forecast. According to Zabotkin, it will be updated taking into account any additional data received since July. He will also choose the interest rate path necessary to return inflation closer to 4%.
In August, Alexei Zabotkin said the central bank's base interest rate could rise above 20% if regulators had doubts about a slowdown in inflation.
The Central Bank has raised the base interest rate twice: to 18% in July 2024 and to 19% in September. In September, Central Bank Chairwoman Elvira Nabiullina did not rule out raising rates in October.