CBR maintaining rate signal: advisability of hiking rate will be assesses at upcoming meetings

MOSCOW. May 18 (Interfax) - The Central Bank of Russia (CBR) is maintaining its signal on the future vector of monetary policy: if inflationary pressures intensify, it will assess the advisability of raising the key rate at upcoming meetings.

"The April 28 signal remains fully relevant," Central Bank deputy head Alexei Zabotkin told a news conference on Thursday.

The regulator complicated the wording of the monetary policy signal in April, leaving it substantively unchanged. "Given the gradual increase in current inflationary pressures, the Central Bank of Russia will assess the feasibility of raising the key rate at its next meetings to stabilize inflation near 4% in 2024 and beyond," the regulator said in a statement following its April 28 rate meeting. At that time, the Central Bank kept its key rate at 7.5%.