Russia's top bank, Sberbank, expects the central bank to hike its key rates and push forward with sterilizing excessive liquidity, Sberbank head German Gref said on Thursday.
"We see that the monetary component of inflation has started moving in recent months, and if it continues, the central bank is likely to push its rates slightly higher, and in the future it may take steps to increase the volume of cash sterilization," Gref said at the first conference, “The Russian Money Market in 2010: Regional Ambitions” organized by RIA Novosti.
Gref also said the central bank was phasing out its anti-crisis instruments.
"They will be gradually phased out further. We will enter a normal mode of operations in terms of money supply by the central bank," he said.
MOSCOW, October 21 (RIA Novosti)
