Bank of Russia hints at rate hike move in December

The Bank of Russia is studying the possibility of raising key interest rates in December, Governor Elvira Nabiullina said at the 15th VTB Russia Calling! Investment Forum in Moscow. However, Nabiullina said the decision is not predetermined.

“We gave a signal that the Central Bank allows for the rate increase but I would like to draw your attention that this is not predetermined,” the governor stated, citing a new pro-inflationary factor driven by exchange rate pressures and elevated price levels. Yet, she noted signs of a lending slowdown, particularly in corporate loans, based on recent flash data.

The 15th VTB Russia Calling! Investment Forum is being held on December 4-5 in Moscow. TASS is the information partner of the forum.

Attribution: TASS

Subediting: Y.Yasser