“At the meeting, we considered three options: maintaining the rate, raising the rate to 19% and raising the rate to 20%, but we substantially considered raising the rate from 19 to 20% after the publication, especially of the inflation statistics for July and August, in general, we discussed at length the measure of raising the rate,” Nabiullina said.
The options discussed coincided with the expectations of financial analysts. As a result, the Bank of Russia raised the key rate by one percentage point – to 19% per annum due to high consumer demand and the current inflationary pressure on the economy. The Bank of Russia admits that the official interest rate may be raised at the next meeting at the end of October, Nabiullina confirmed.
