Key rate may grow further, VTB chief says

  VLADIVOSTOK:  The Bank of Russia may continue raising the key rate, CEO of VTB Bank Andrey Kostin said in an interview with RBC news outle...

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VLADIVOSTOK:  The Bank of Russia may continue raising the key rate, CEO of VTB Bank Andrey Kostin said in an interview with RBC news outlet on the verge of the Eastern Economic Forum.

"The [key] rate increase should not be ruled out. Representatives of the Central Bank have already stated that," Kostin said.

The next meeting of the Board of Directors of the Bank of Russia will be held on September 15. The Central Bank made the decision at the extraordinary Board meeting on August 15 to raise the key rate from 8.5% to 12%.

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