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. Last Updated: 07/27/2016

Interest Rates May Rise

The Central Bank may hold or raise interest rates at its meeting this week, a policymaker said Tuesday, signaling the bank's strong focus on inflation after it made a surprise hike last month.

First Deputy Chairman Alexei Ulyukayev said he considered inflation risks to be greater than those of an economic slowdown, adding that he expected the ruble to remain stable on foreign exchange markets.

"We don't rule out holding rates or raising them," Ulyukayev told reporters on the sidelines of a financial conference. The bank holds its next monthly policy meeting Friday.

(Reuters)