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Key rate may be lifted in July if needed — Bank of Russia

According to Governor Elvira Nabiullina, monetary conditions will remain tough as long as it is needed to lower inflation to the target

MOSCOW, June 7. /TASS/. The Bank of Russia does not rule out a significant increase of the key rate in July if inflation pressure does not go down, Governor Elvira Nabiullina said at the press conference after the Board meeting.

"If steady inflation pressure does not start going down, proinflationary risks materialize, then we admit the possibility of a considerable increase of the rate in July," she said.

Monetary conditions will remain tough as long as it is needed to lower inflation to the target, Nabiullina stressed.

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Central Bank of Russia

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