The Central Bank of the Russian Federation allowed the key rate to increase above 20 percent
The key rate could rise to 20 percent or more if inflation does not slow down.
The Bank of Russia may make this decision if the inflation expectations of Russians and businesses decline rapidly.
The Central Bank of Russia may increase the key rate to 20 percent and higher, said Deputy Chairman of the Central Bank Alexey Zabotkin in an interview with Rossiyskaya Gazeta .
He explained that if there are doubts about the slowdown in inflation in the coming months, the Central Bank may decide to raise the rate.
Zabotkin said that the regulator is taking measures to reduce inflation to the target four percent.
The key rate may be raised to 20 percent or more if inflationary risks materialize and exports and imports fall.
Zabotkin emphasized that the rate could also increase due to a significant deterioration in external conditions.
The Central Bank will doubt the slowdown of inflation in the Russian Federation and may raise the rate to and above 20 percent.
