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in January March 2006 Federation with respect to the cost of a fixed set were a little lower than in the same period last year.

calculated at current quotations by the Bank of Russia. Calculated at the fixed value of monetary gold as $300 per troy ounce as applied for

standard terms and con of Russia refinance instruments increased. Liquid ditions at fixed interest rates, deposit auctions, the ity shortages were mostly eliminated by conduct

budget’s continued sterilising with its own bonds (OBR bonds) and daily fixed function). 2 2005 Q3 Major Inflation Indicators Major Inflation Indicators According to

of fixed capital investment growing faster than real con industry, 5% in the food industry, 4% in the ferrous met sumer spending has changed. Fixed

2005. But the existing with its own bonds (OBR bonds) and daily fixed lags prevented this factor from exerting extra rate deposit operations on standard

Russia of growth in the ruble supply on an annualised conducted daily fixed rate deposit operations on 2005 Q1 1 Quarterly Inflation Review standard terms,

industry. As 2004 Q4 1 Quarterly Inflation Review Along with its daily fixed rate deposit at modified reverse repo auctions con operations on standard terms,

industry has the lowest rate (53%). The rate of fixed capital renovation in the of fixed capital renovation3 (0.4). It is 4.5 times

year on year to $135.9 billion and imports rose growth in fixed capital investment in 2003 was more sig by 24% to $75.4