Central Bank head Elvira Nabiullina allowed for a significant increase in the rate in July.
Currently, the key rate remains at 16%, but may increase as early as July.
The deputy chairman of the regulator, Alexey Zabotkin, spoke about this on the air of the Russia 24 TV channel.
According to him, the likelihood that the key rate will increase by more than 1 percentage point is high.
He said that the Central Bank will discuss raising the key rate to 17–18% per annum in July.
He also recalled that the Central Bank kept the key rate at 16% in June.
At the same time, Nabiullina did not rule out the Central Bank considering the option of increasing it.
This will be discussed at the July meeting, where a decision will be made depending on the incoming data, Zabotkin clarified.
Earlier it was reported that the heads of Sber and VTB were frightened by Nabiullina’s question regarding the key rate .