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RUSSIA: CBR Likely to Consider Same Key Rate Options in July as in June

RUSSIA

The Central Bank's Board of Directors may consider the same options regarding decisions on the key rate it did in June at its meeting in July, but a lot can change before the next round, Kirill Tremasov, the director of the Central Bank's monetary policy department said as per Interfax.

  • He said that the CBR Board of Directors considered the possibility of raising the rate 100bps in June to 17%, as well as 200bps to 18%.
  • "We will have complete statistics on inflation for both May and June by the July meeting [...] I think that the proposals that were made in June, at the June board of directors, will be on the table in the July round as well. Objectively speaking, the July round is still far away, so a lot can change," Tremasov told reporters
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The Central Bank's Board of Directors may consider the same options regarding decisions on the key rate it did in June at its meeting in July, but a lot can change before the next round, Kirill Tremasov, the director of the Central Bank's monetary policy department said as per Interfax.

  • He said that the CBR Board of Directors considered the possibility of raising the rate 100bps in June to 17%, as well as 200bps to 18%.
  • "We will have complete statistics on inflation for both May and June by the July meeting [...] I think that the proposals that were made in June, at the June board of directors, will be on the table in the July round as well. Objectively speaking, the July round is still far away, so a lot can change," Tremasov told reporters