Bank of Russia increases inflation target for 2013


The Bank of Russia's guidelines for monetary policy for the next three years, published on December 29, showed the inflation target band for 2013 was revised upwards.

The guidelines released a year ago predicted an inflation band of 4.5–5.5% in 2013, but this was increased to 5–6% in the latest document. "Monetary programme calculations for 2013–2015 have been made on the basis of money demand indicators, which correspond to the inflation targets, GDP projections and other macroeconomic indexes

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