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on pension savings were 2.7% (11.1% per annum), on pension reserves — 2.5% (10.2% per annum), whereas inflation was 1.7% (6.

collection orders of the Bank of Russia to transfer funds to obligatory reserves held with the Bank of Russia)46. Furthermore, the BESP system ensures

O., Gorodnichenko Y., Knotek E. Average Inflation Targeting and Household Expectations. Federal Reserve Bank of Cleveland. – 2021. – No. 20–26R. Dorich J., Mendes R., Zhang

Policy Conference, Federal Reserve Bank of St. Louis. 47. Wynne Mark A., 2008. Core Inflation: A Review of Some Conceptual Issues. Federal Reserve Bank of

pdf. RBA. Reserve Bank of Australia: Inflation target, a. URL https://www.rba.gov.au/inflati on/inflation-target.html. 34 Май 2023 RBNZ. Reserve Bank

деятельности и кредита., Member Bank Reserves – Report of the Committee on Bank Reserves of the Federal Reserve System. Federal Reserve Board Annual Report. 1932. pp.

Relationship Between Short-Term Interest Rates and Excess Reserves: A Logistic», 2018. 38. Whitesell W. «Interest rate corridors and reserves». Journal of Monetary Economics, 2006, 6,

Orleans (05.01.2008). 39. Reserve Bank of New Zealand (16 December 1999). Policy Targets Agreement for 1999. 40. Reserve Bank of South Africa. Monetary

provision scheme and the possible unification of the dates for averaging required reserves for each period with the dates that the Board’s key rate

International Reserves of the Russian Federation*.......................................................................................................................... 15 1.8. International Reserves and Foreign Currency Liquidity — Russia................................................................................................... 16 1.9. International Reserves Adequacy (International Reserves in