Translation. Region: Russian Federal
Source: Central Bank of Russia –
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Nominal interest rates declined in May, but a renewed decline in inflation expectations helped maintain the achieved tightness of monetary conditions. However, the decline in nominal rates became more pronounced in June.
Operational estimates indicate a further decrease in interest rates on loans and deposits in June. Credit activity in the corporate and retail segments remained moderate. This restrained the growth of the money supply. The dynamics of monetary aggregates in June were comparable to May.
For more details, read the information and analytical commentary "Monetary conditions and the transmission mechanism of monetary policy".
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