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representative sample in Russia. On average, about 15,000 enterprises of the key economic activities took part in the surveys every month in 2023. Every

Price Dynamics 18 No. 7 (103) • July 2024 COMPANIES’ PRICE EXPECTATIONS, BY KEY Chart A-42 PRODUCER PRICE INDEX Chart A-43 INDUSTRY (THREE-MONTH AVERAGE, % SAAR) (BALANCE

following the key rate meeting on 26 April 2024, the forecast has been changed as follows: • Key rate. The forecast of the average key rate

conditions after the key rate meeting in June. • Money market rates and OFZ yields increased significantly. Market participants’ expectations regarding the key rate path were

key rate to 18.00% per annum from Summary of the Key Rate Discussion 12 29 July 2024, to considerably revise upwards the projected key

is based on interest rates and yields in the key market segments, influencing each other (the key rate has a direct effect on short-term money

made for them. Accrued interest receivable/ The Bank of Russia key rate (hereinafter, the key rate) is an payable is included in related type of

Federal District and least of all in the North-Western Federal District. The key factor was the indexation of utility rates that increased more than usual

3 Key anti-crisis measures.............................................................................................................................. 5 Key lessons learned from the crisis............................................................................................................... 7 2014–2015 crisis...........................................................................................................................................................................8 Causes and progression of the crisis.............................................................................................................8 Key anti-crisis

QUANTITATIVE RESTRICTIONS OF RUSSIAN EXPORTS 26 4.2.1. EXPORT VOLUMES FOR KEY COMMODITIES ..................................................... 27 4.3. DOMESTIC CLIMATE POLICY ..................................................................... 28 4.3.1. EMISSION