Russia reduced the monetary base

In Russia, the monetary base in narrow definition has decreased over the period from 16 to 23 August 2019 by 56.3 billion to 10 trillion 578,7 billion rubles, follows from materials of Bank of Russia.

The monetary base in narrow definition includes the released cash (taking into account balances in tills of credit institutions) and balances on accounts of compulsory reserves by attracted by credit organizations resources in the national currency, deposited in Bank of Russia.

A week earlier, the volume of narrow monetary base grew at 103.9 billion rubles.

Recall also that, according to Rosstat, consumer prices in Russia for the period from 20 to 26 August 2019 have not changed after falling 0.1% the previous two weeks in a row, and since the beginning of this year, inflation has stabilized at around 2.5%.

In July, consumer prices in Russia rose 0.2% compared to the previous month. While yoy inflation in June, slightly decelerated to 4.6% from 4.7% in June.

In 2018, consumer prices in the country increased by 4.3% (December to December 2017), and a year earlier the inflation rate was recorded at the historical low level of 2.5%.

The Ministry of economic development (MED) of the Russian Federation has recently updated its inflation forecast for this year and now expects it at the level of 3.8% instead of 4.3%. Assessment of the Bank of Russia is somewhat different — 4,2-4,7%.

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