Russian Central Bank allows for possibility of hiking key rate in Dec; decision not set in stone - Nabiullina

MOSCOW. Dec 4 (Interfax) - The Central Bank of Russia allows for the possibility of hiking the key rate at the regulator's board meeting in December, though the decision is not set in stone, Central Bank Governor Elvira Nabiullina said during the macroeconomic session of the VTB Russia Calling! forum.

"We have given the signal that the Central Bank allows for the possibility of raising the rate, though I want to draw attention to the fact that this is not predetermined. Yes, we have a new inflationary factor, the exchange rate, and price growth remains high," Nabiullina said.

"However, we already see from the latest data that there has been a slowdown in loans, including corporate loans. This is the latest, operational data that will be updated. We see how banks are updating their lending plans, and we will naturally take this factor into account. We will receive more up-to-date data ahead of the board meeting," she said.

"Moreover, a slowdown in the money supply will accompany the slowdown in corporate lending and lending in general, which should ultimately affect inflation with a lag, and we will also take these lags into account," Nabiullina said.