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purpose of imple- menting the single state foreign exchange policy and 64% 36# &63 36# monetary policy, the foreign exchange market: – offers the Russian Government

tightened their requirements for potential credit card holders, and altered their fee policy by raising credit card commissions. As a result, the number of credit

deposited with the Bank of Russia – one of major instruments of monetary policy of the Bank of Russia, used for banking system liquidity management. Required

Monetary Policy II.1. Objectives and Results of Monetary Policy ........................................................... 42 II.2. Dynamics of Monetary and Credit Indicators ........................................................ 45 II.3. Monetary Policy Instruments

monetary policy ........................................................ 44 II.1.2. Dynamics of monetary and credit indicators ............................................. 48 II.1.3. Monetary policy instruments ................................................................. 52 II.2. Foreign exchange policy

II.1. Monetary policy ........................................................................................... 56 II.1.1. Monetary policy objectives and results ..................................................... 56 II.1.2. Monetary authority indicators and monetary policy instruments ................... 62

II.1. Monetary policy ........................................................................................... 52 II.1.1. Monetary policy objectives and results ..................................................... 52 II.1.2. Monetary authority indicators and monetary policy instruments ................... 58

II.1. Monetary policy ........................................................................................... 56 II.1.1. Monetary policy objectives and results ..................................................... 56 II.1.2. Monetary indicators and monetary policy instruments ................................ 62 II.

II.1. Monetary policy ........................................................................................... 48 II.1.1. Monetary policy objectives and results ..................................................... 48 II.1.2. Monetary authority indicators and monetary policy instruments ................... 52

deposited with the Bank of Russia – one of major instruments of monetary policy of the Bank of Russia, used for banking system liquidity management. Required