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March 2020 (sanction draft laws and continuous growth of yields (US sanctions) (coronavirus) (coronavirus and oil) outflow of funds from EMEs) Days 5 9 6

to defer the creation of loss provisions on such loans. Amid rising coronavirus infection rates in certain regions of the Russian Federation this autumn, anti-epidemic

decisions. The document focuses on the impact of the recent rise in coronavirus infections, tightened restrictions and government support measures on current economic conditions, as

sustainable growth as the coronavirus situation returns to normal. The medium-term economic growth path will be largely influenced by further coronavirus pandemic developments in Russia

to the autumn rise in put downward pressure on money market rates. coronavirus cases. Furthermore, the demand As banks adjusted to the changed environment, for

effects caused by 4 anti-coronavirus restrictions 3 The autumn rise in the coronavirus incidence 2 has a significantly lower impact on prices for goods and

at 175 bp above the key rate. to the spread of the coronavirus infection. At auction means the amount of funds extended (transferred) by the

as a result of supply- side factors related, in particular, to the coronavirus pandemic. Annual inflation increased by 0.32 pp to 3.99%, including

the back of the exchange rate fluctuations. The autumn rise in the coronavirus incidence did not lead to significant changes in consumer behaviour and price

vulnerability of the financial system to both internal and external shocks (the coronavirus pandemic became such a shock in 2020). As a result of the