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decreasing inflationary pressures. The effects of tight monetary policy, including through the ruble appreciation, are more prominently seen in the low growth in prices for

5–10 7–12 7–12 Claims on organisations and households in rubles and foreign currency3 16.5 7–10 6–11 8–13 8

Figure 20. Banks’ claims in ruble terms, % м/м SA Figure 21. Growth in lending and net bond issuance6, trillion rubles 4 2.5 3

9% vs +0.4% in May. The increase was mainly driven by ruble loans (+0.7%), with a significant portion of them issued to housing

of rubles (works, services), to individuals, billions of rubles (including customs duties), billions of rubles billions of rubles billions of rubles billions of rubles 1

of the monitoring of the maximum interest rates on deposits1 in Russian rubles of the top 10 credit institutions2 attracting the largest amount of household