Russia’s central bank sees no slowdown in inflation

MOSCOW

Russia’s central bank has not yet determined a policy interest rate decision for December, Deputy Governor Alexei Zabotkin said, adding that high price increases have been relatively stable during the last one or two months.

Zabotkin told reporters in Moscow on Monday that the policy rate for December is expected to raise.

Pointing out that he did not find an interest rate hike unlikely, Zabotkin said the decision in December is not predetermined.

The decision will be made based on the economic picture that the board will see in mid-December, he said.

On Oct. 25, the Central Bank of the Russian Federation last raised the policy rate to an all-time high of 21%, an increase of 200 basis points.