ST PETERSBURG, July 4 (Reuters) - The Russian central bank's main point of discussion when it next meets on rates on July 26 will be the size of an interest rate increase, Governor Elvira Nabiullina said on Thursday, as data showed the rate of inflation was not slowing.
"Inflation risks have not only grown but have also materialized. I think that in July a key rate hike will be on the agenda," Nabiullina told a news conference on the sidelines of a financial forum in St Petersburg.
"I think that the main discussion topic will be by how much ," she added.
Analysts polled by Reuters expect the bank to hike the key rate to 18% from 16%.
The latest data, with inflation at 9.22%, well above the bank's 4% target, showed that price rises have significantly deviated from the bank's baseline scenario, Nabiullina told reporters.
She said that data for May also showed a faster growth in corporate loans compared with April, another factor fueling inflation.
Earlier, Alexei Zabotkin, Nabiullina's deputy, had said that the regulator will significantly raise its inflation forecast for 2024 at the July meeting. (Reporting by Elena Fabrichnaya; Writing by Alexander Marrow and Gleb Bryanski; Editing by Andrew Osborn)
