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reserves (correspondent accounts) (de- 0.0 0.0 [-0.7; -0.2] Inflation expectations derived from OFZ-IN mand) rose considerably. However, the major part of

50% per annum in order to check inflation risks. I refer to the risks of mounting inflation and inflation expectations in response to exchange rate

inflation and economic dynamics against the forecast, as well as risks posed by external conditions and the reaction of financial markets. Inflation dynamics. Annual inflation

50% per annum in order to check inflation risks. I refer to the risks of mounting inflation and inflation expectations in response to exchange rate

conduct operations with foreign currency. rate of a respective currency, interest rates, inflation rate, derivatives’ prices, official statistical information, physical, Individual Indicators Highlights biological and

the economic sense of all the following six financial and economic terms: inflation, interest rate, compounding, money illusion, risk diversification, the main purpose of insurance.

to stabilize inflation, but like many other emerging markets before us — we were only able to reach low inflation after the introduction of inflation targeting.

H. (2003) Divergent inflation rates in EMU. Economic policy 18(37): 357–394. 29. Huang K., Liu Z. (2005) Inflation targeting: what inflation rate to

and consumer lending underpinned consumer activity. Further expansion in demand will bring inflation back to the 4% target. Economy in June 2018 (year-on-year growth, %, unless

2014 Inflation targeting Active inflation Liquidity Transition deadline Key rate introduced Floating exchange announced targeting management set rate introduced communications Since Dec. 2017 Inflation targeting