FACTBOX: Bank of Russia statements on cash demand, oil prices and key rate path

MOSCOW, July 1. /TASS/. Demand for cash has increased noticeably in recent months, according to the Bank of Russia’s summary of discussions on the key interest rate.

The central bank did not rule out a higher path for the key interest rate over the medium term. The regulator also noted that oil prices may remain elevated in the near term.

TASS has compiled the key takeaways from the summary.

Ruble strength

The strong ruble will continue to have a "disinflationary effect" and receive sustained support from structural factors: "It is supported not only by temporary external factors, but also by cyclical and structural factors of a more lasting nature. The pass-through of the global commodity price shock and higher logistics costs into domestic prices is likely to be weaker than this effect."

FACTBOX: Bank of Russia statements on cash demand, oil prices and key rate path

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