The rise in Russian consumer price inflation to 0.6% month on month and 8.6% year on year in June 2024 (up from 8.3% y/y in May) could push the Central Bank of Russia (CBR) to ramp up the key interest rate from 16% to 18% at the July 26 policy meeting, the analysts believe. (chart) As covered by bne IntelliNews, the board of the Central Bank of Russia (CBR) at the June 7 policy meeting resolved to keep the key interest rate unchanged at 16%, making a neutral rate decision for the fourth consecutive time. (chart) However, as inflation pressures continue to build up, the regulator is expected to…