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reduction in inflation expectations. Despite the ongoing moderately tight monetary environment and the continued inflation reduction, inflation expectations remain elevated. Risks for inflation reaching the

mid-2014 after noticeable growth in September. Unsteady inflation expectations indicate that inflation risks still exist. Income growth and inflation slowdown produced a positive effect on

to anchor the downward inflation trend. The Bank of Russia will assess inflation risks and compliance of economic performance and inflation with the baseline scenario

interest (coupon) calculated by a formula with variables (excluding interest rates and inflation). For the purposes of this decision, a rating notch means its gradation

slowing inflation of livestock prices. was exerted by weakening consumer demand, which Freight tariffs increased by 11.5% (0.9% in 2014). Inflation, core inflation,

has been 9.5% p.a., with inflation being at 6.7%. These funds have managed to outpace inflation by investing in corporate bonds, whose

this was conducive for keeping monetary conditions tight as needed to set inflation on a sustainable downward track. In September, growth in the banking sector

the Bank of Russia’s website. of a respective currency, interest rates, inflation rate, derivatives’ prices, official statistical information, physical, biological and (or) Individual Indicators

the Bank of Russia’s website. of a respective currency, interest rates, inflation rate, derivatives’ prices, official statistical information, physical, biological and (or) Individual Indicators

growth rates to the inflation target value (4% by 2017 end). The neutralisation of negative effects of possible realisation of inflation risks is possible through