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Reserve was to main weighted interest rate at the four seven day auc tain stability in the financial sector and avert the risk of an

1.5% and against the yuan auctions. Average weighted 4 week deposit auc by 2.5%. At the same time, the dollar appreciated 4.4

8 billion as of April The Bank of Russia set higher deposit auc 1, 2007. tion cut off rates in January March 2007. Aver On

from 11.5% to 11% p.a. Average weighted four week deposit auc The real rate of the ruble gained 2.2% tion interest rates

ranged from 2.44% to 3% p.a. at four week deposit auc tions in 2006 Q2 and were higher than in 2006 Q1. At

2005 Q1 1 Quarterly Inflation Review standard terms, continued to hold deposit auc by the Bank of Russia increased significantly year tions and intensified operations

Andronov. Mint: Saint Petersburg Mint (СПМД). The edge: 200 corrugations. The tank КС (is known also as "Tank М" and "Russian Renault") was produced in

курса доллара, – разрыв реальной ставки в России, – разрыв премии за риск, – разрыв экс- – разрыв реальной ставки в США, – разрыв импорта, ( , ) – изменение резервов в соответствии с

прокси, так как это разность логарифмов номинальной цены на нефть (прокси цены экс- порта) и уровня цен в США (прокси цены импорта). UIP для полностью