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the year. – further improvement in the labour market and reasonable confidence that inflation will reach the Chart 1. Changes in the exchange rates to the

happened amid still falling investments in the en- 80 ergy sector and inflation hovering near 2%. 06.2015 09.2015 12.2015 03.2016 06.

to deliver yet higher growth rates in the course of 2018. As inflation slows down, the Bank of Russia key rate is declining along with

the recent meeting of the Bank of Russia’s Board of Directors, inflation expectations and risks as well as economic forecasts. More than 50 representatives

helps lower inflation expectations, which are strongly dependent on inflation, especially at an early stage in inflation targeting. Another consideration, [this rate of inflation] enables

in inflation expectations of households and businesses, further contributing to keeping inflation at bay. However, households’ inflation expectations are still way above the inflation target,

helps lower inflation expectations, which are strongly dependent on inflation, especially at an early stage in inflation targeting. Another consideration, [this rate of inflation] enables

further growth of the Russian economy. The bulletin’s authors note that inflation stabilised at 2.2% in February due to, among other things, temporary

estimates for late 2018 down by 25-50 bp. As actual inflation is slowing down, inflation expectations derived from OFZ-IN reduced somewhat. The negative spread between

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