Russian Central Bank’s key rate may reach16% by year-end - Sber

Sber expects the Central Bank’s key rate at 16% by the end of this year, the senior vice-president, head of finance block of the bank Taras Skvortsov said.

"We expect the key rate of the Bank of Russia at the level of 16% by the end of the year. Let’s look at the results of the Central Bank’s meeting," Taras Skvortsov said.

The Bank of Russia maintains a tight monetary policy. The key rate currently stands at 18% per annum. The next meeting of the Central Bank on the key rate is scheduled for September 12.