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an entity only if this rating is directly assigned to such entity. 8. To use the following types of credit ratings by JSC Expert RA

an entity only if this rating is directly assigned to such entity. 8. To use the following types of credit ratings by JSC Expert RA

at least one of the foreign rating agencies, decreased by three notches. 8. To establish, for the purposes of paragraph six of Subsclause 1.4.

seen in retail. The Bank of Russia forecasts inflation at 3.8–4.8% in 2020; moving forward, it is set to sit close to

already now. Based on our forecast, annual inflation will reach 3.8–4.8% by the end of the year amid the easing of monetary

0-6.0) 2.8-4.8 1.5-3.5 Final consumption expenditure 2.4 -(0.6-2.6) 2.3-4.3 0.8-2.8 – households 2.5

forecast, given the monetary policy stance, annual inflation will reach 3.8-4.8% in 2020 and will stabilise around 4% later on. If the situation