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sectors. Fewer companies referred to
government regulation and changes in the ruble exchange rate as the reasons behind expected
price growth.
LABOUR MARKET. In January
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might lead to strengthened volatility in global commodity and financial markets, affecting exchange rate and inflation expectations.
The Bank of Russia key rate is within
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in global markets, including due to geopolitical events. This may impact both exchange rate and inflation expectations.
In addition, uncertainty remains about how the pandemic
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result, market volatility in emerging market economies might intensify, which can affect exchange rate and inflation expectations.
Another group of risks is associated with structural
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settlements were entrusted to the State Bank. It had to establish official exchange rates for precious metals and foreign currency.
1922
A monetary reform was
health resort services remained elevated.
EXCHANGE RATE
Over the period from May 2025 to February 2026, the ruble exchange rate against the main
currencies stayed
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markets.
Firms change their prices depending on many factors, such as inflation, exchange rates, the phase of the business cycle, firms’ financial position, etc. Marya
Russia
Floating
Managed floating exchange rate
exchange rate within
the operational Advancement of the monetary instrument system Strategy adjustment
target Exchange rate policy adjustment Development
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exchange rate movements on price changes is called the ‘pass-through’ and is often analysed as an independent inflation factor. A quantification of the Exchange Rate
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targeting regime involves a floating exchange rate determined by supply and demand in the currency market. Under the floating exchange rate regime, the Bank of