Russia central bank forecasts falls in inflation

The Central Bank of Russia [CBR] will conduct its monetary and credit policies proceeding from the assumption that inflation will steadily decline as of next year, from 10-12 per cent expected in 2003 to 8 per cent in 2005.

This forecast is contained in the CBR's draft monetary and credit policy guidelines for 2003, submitted to the State Duma.

The State Duma's budget and taxes committee has advised the lower house to approve the draft when it meets in full session on 11 December to discuss the

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