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because 12% more than over the same period in 2019. of faster inflation. 8 Foreign economic activity commodity code – 8708. 9 Foreign economic activity commodity

a gradual monetary policy normalisation in the case of a slowdown of inflation. • The main trends observed in the market of ruble deposits in the

of the central bank’s monetary policy, with the inflation rate staying always elevated. To contain inflation, the central bank will have to maintain a

participants reviewed their expectations regarding the key rate due to persistently high inflation. As deposit rates continued to go up, the inflow of households’ funds

PhD. The recommended research topics are: central bank policies and their tools, inflation, financial stability, the banking system, and data analysis. Please send your applications

2017 2018 2019 2020 2021 Observed inflation Expected inflation Annual inflation The impact of one-off supply-side drivers of inflation is translating into growing prices for

for obligations of the Government of the Russian Federation, debt achieving the inflation target. The key rate is set by the Bank obligations of other

of Russia experience 1. Implementation of monetary policy in the framework of inflation targeting 2. Operational goal and specifics of the operating procedure 3. Experience

ОСНОВЕ КВАРТАЛЬНОЙ ПРОГНОЗНОЙ МОДЕЛИ ДЕКАБРЬ 2021 34 12. De Haan J. (2010) Inflation differentials in the euro-area: a survey // De Haan J., Berger H. The

Instruments are Inflation 4.3% Inflation 3.0% Inflation 8.4% Inflation targeting is “Floating rate and represented as a developed, the inflation targeting by