Russia's Central Bank keeps key rate at 7.5%

The board of directors of the Bank of Russia has decided to keep the key rate at 7.5% per annum, the regulator said in a press release following the board meeting on Friday, TASS reported.

"The domestic financial market has stabilized in the time since the previous board meeting. However, pro-inflationary risks remain elevated, especially over a short-term horizon. The uncertainty over future external conditions persists," the Central Bank said.

The regulator will consider the necessity of further increases in the key rate. 

It will take into account inflation and economic dynamics against the forecast, as well as risks posed by external conditions and the reaction of financial markets.

The next meeting of the Board of Directors of the Central Bank, at which the key rate will be discussed, will be held on December 14.