Aksakov: Key rate may rise to 20%

The key rate of the Russian Central Bank may rise to 20% at the next meeting in October, the Chairman of the State Duma Committee on Financial Market Anatoly Aksakov told TASS.

Aksakov explained that the monetary policy would remain tight. In accordance with this course, the Russian Central Bank will continue to raise the key rate until the regulator reaches the target.

"I admit that in the near future, on October 25, the Central Bank will raise it to 20% in order to ensure a return of inflation to 4%",

Anatoly Aksakov said.

It should be noted that in September, the country's financial regulator raised the key rate to 19%. At the same time, the rate increase to 20% was predicted under the alternative scenario.