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SITUATION AND INFLATION ........................................................................................................................................................................................................................................................... 2 MONETARY CONDITIONS .................................................................................................................................................................................................................................................................................................................................................................................. 5 EXTERNAL ENVIRONMENT .................................................................................................................................................................................................................................................................................................................................................................... 7 INFLATION RISKS ............................................................................................................................................................................................................................................................................................................................................................................................................................................... 8 CONCLUSIONS FOR MONETARY POLICY AND THE KEY RATE DECISION ....................................................................................................................................................................................................................................................................................................................................... 9 Summary of

inflation indicators adjusted for volatile components were within the range of 6–8% in annualised terms, which indicated persistently elevated inflationary pressures in terms of

8 Нидерланды 2021 17,5 Испания 2021 9,6 Мексика 2021 16,7 Дания 2022 8,4 Швеция 2021 15,5 Япония 2021 7,8

the share of lending to borrowers aged under 35 was up by 8 pp on average across all lending segments. Credit cards were becoming increasingly