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monetary policy Inflation and inflation expectations Decision (as of April 27, 2018) • Annual inflation remains low • Ruble weakening in April will quicken inflation movement to

from 10.9% to 17.0% per annum, with 3.3% annual inflation. The total NAV of UIFs for non-qualified investors in 2018 Q1 was

The publications should be educative and discuss one of the following: • Steering inflation through the key rate. • Banking system. • Banking services and instruments. • Fraud in

CONTENTS Executive summary ____________________________________________________ 3 1. Monthly summary ___________________________________________________ 5 1.1. Inflation ________________________________________________________ 5 1.1.1. Inflation accelerates but remains low ______________________________________ 5 1.1.2. PMI

that Russia has established a strong macroeconomic policy framework in recent years. Inflation targeting and a flexible exchange rate of the national currency received positive

declining short- and medium-term interest rates, which reflects the trend of decreasing inflation expectations in 2017 Q4. At the same time, higher oil prices led

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

to regional information campaigns. Such transparency makes an integral part of the inflation targeting regime. The Bank of Russia will continue to fine-tune its monetary

That said, consumption growth remained moderate and in line with a gradual inflation increase to the 4% target. Being caused by one-off factors, slower business

H. Mumtaz. 2017. ‘Financial conditions and density forecasts for US output and inflation.’ Review of Economic Dynamics 24: 66–78. Banbura, M., D. Giannone, and