The scale of the rise matched the one a month earlier and came after November inflation spiked at 7.4%.

The council also decided on Tuesday to raise the O/N deposit rate by 80 bp to 2.4% and the O/N and one-week collateralized loan rates by 30 bp to 4.4%.

The O/N deposit rate and the collateralized loan rate mark the bottom and the top, respectively, of the central bank's "interest rate corridor". The base rate is paid on mandatory reserves and preferential deposits.