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document takes into account the Bank of Russia’s decisions on the key rate made on 15 August and 15 September, the updated macroeconomic forecast

and methodological framework for compiling financial accounts and financial balance sheets. The key information blocks for compiling financial accounts and financial balance sheets are as

of efficiency of the key rate pass-through to commercial banks’ products: changes in credit and deposit rates are smaller than key rate increases. Henry Penikas

and the depreciation of the ruble. This situation required to increase the key rate in order to limit the inflation deviation upward from the target

contributing to the rise in the demand for goods and services. The key rate increase will be moderating credit activity and demand gradually. o Seasonally

because consumer demand expanded. More details are available in the Review of Key Indicators of Microfinance Organisations for 2023 Q2. Preview photo: Zoff / Shutterstock / Fotodom

1 rates and yields in the key market segments, Through any of these channels, higher affecting each other (the key rate has a direct market

Republic, the Zaporozhye Region, and the Kherson Region. CONTENTS Russian Federation ............................................................................ 6 Key trends in Russian regions ........................................................... 7 Core economic indicators .................................................................. 8 Inflation in Russian

Bank of Russia’s medium-term forecast following the Bank of Russia Board of Directors’ key rate meeting on 15 September 2023 Key forecast parameters of

Today, we have made the decision to raise the key rate to 13% per annum. The key rate top-ups since July are the response to