Russia's c.bank says minority on board favoured even bigger rate rise last month
Corrects to last month from last week in headline and first paragraph, and to Oct. 25 from last Friday in 5th paragraph
MOSCOW, Nov 6 (Reuters) -A minority of Russian central bank board members favoured an even bigger rate hike at last month's meeting where the majority voted to raise the key rate by 200 basis points to 21%, a summary of the discussion showed on Wednesday.
Those who were in favour of raising the rate to 22% wanted to reduce inflation faster and get insurance against new pro-inflationary risks that remain high, the bank said.
But the majority decided that such a sharp rate hike could lead to volatility in the markets, it added. The possibility of setting the rate at 20% was also considered.
Russian inflation will hit 8.1% at the end of the year, above the current government forecast, while the central bank is set to hike its key rate by another 100 basis points in December, according to the median of a Reuters poll of 14 analysts.
The Oct. 25 move took the key interest rate to its highest level since the early years of President Vladimir Putin's rule when Russia was recovering from the chaos that followed the collapse of the Soviet Union.
Reporting by Elena Fabrichnaya; Writing by Anastasia Teterevleva;
Editing by Mark Trevelyan
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