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of Inflation Persistent? Evidence from a Novel Decomposition of PCE Inflation. Federal Reserve Bank of Boston Current Policy Perspectives. November 4, 2022. 9 TALKING TRENDS

OF BANK OF RUSSIA RESERVES AND FUNDS FOR 2024 234 ( mln) Growth in the value Reserve Fund Social Fund Revaluation reserves of property after Total

pension funds (NPFs) registered maximum growth (by 7.3%) in their pension reserves in 2025 Q2. This resulted from a rise in income from investing

the ‘Labor Reserves’ coin (Catalogue No. 5015-0077) features a coloured image of the symbols of All-Russian Physical Culture and Sports Society Labor Reserves. The mintage

Fund resources. Nevertheless, the decline in reserves due to balance of payments transactions offset an increase in international reserves fuelled by revaluations amid record-high gold

as well as precious metal coins in circulation); • funds in the required reserve accounts deposited by the Russian Federation resident credit institutions with the Bank

errors in this document are the responsibility of the authors. All rights reserved. Reproduction is prohibited without the author’s consent. Cover image: Shutterstock/FOTODOM

instruments (auctions and standing facilities to provide and absorb liquidity, and required reserves). The system of monetary policy instruments takes into account the specifics of

instruments (auctions and standing facilities to provide and absorb liquidity, and required reserves). The studies and consultations with market participants within the Monetary Policy Review

the opportunity to use a part of its international reserves in the world’s main reserve currencies in order to mitigate risks to financial stability.