Head of the Central Bank of the Russian Federation: the forecast for the key rate in July may be revised upward

MOSCOW, June 20 - RIA Novosti. The forecast for the average trajectory of the key rate of the Central Bank of the Russian Federation in July, if revised, will be more likely upward than downward, said the head of the Bank of Russia, Elvira Nabiullina, during a press conference.

“Now pro-inflationary risks have even increased, and if the forecast for the key rate trajectory is revised, it will be upward rather than downward,” she said.

Following a meeting of the board of directors on Friday, the Bank of Russia lowered the key rate to 14.25% per annum, for the ninth time in a row.

Nabiullina noted that the forecast for the key rate was not revised at today’s meeting. However, at the next key meeting the forecast will be revised as a whole.