Bank of Russia increases inflation target for 2013

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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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