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key rate (average for averaging periods, right-hand scale) Source: Bank of Russia calculations. MONEY MARKET RATES WERE CLOSE Chart 3 TO BANK OF RUSSIA KEY

the next working day after being fixed 3.1. Bank of Russia Key rate by the Board of Directors of the Bank of Russia 3.

been released. The issue highlights Bank of Russia decision to keep the key rate unchanged at 7.75% p.a. and also information on the

evolution of the self-regulatory organisation as an institute: the meeting touched on key components in the concept of an evolving regulatory environment and the Bank

seasonal outflow. Short-term interbank rates were close to the Bank of Russia key rate, with the spread between them slightly negative. The forex liquidity position

half of 2020. In its key rate decision-making, the Bank of Russia will determine if the increases of the key rate in September and December

2017 2018 Q4 2018 2018 2018 Output of goods and services by key industry 2.4 1.8 … … … Industrial output 2.1 2.4 2.

Russia decided to raise the key rate by 25 bp. Despite the fact that not all market participants expected the key rate increase in December,

investment and strengthen the investment capabilities of non-governmental pension funds (NPFs). Among key updates are criteria enabling an NPF that meets them to buy Russian

differentiated, as well as risk governance, business continuity and corporate governance requirements.’ Key provisions of the ordinance enter into force 10 days after its official