cbr quarterly_review, 2009-03-31
Thus, considering that the annual rates of growth in money supply and in loans to non-financial institutions have been decreasing for a relatively long period (over 18 months in money supply and during 2008 and 2009 Q1 in loans to non-financial institutions), it is likely that the monetary pressure on inflation dynamics will gradually decline in the medium term.
Sentiment: neutral
Topic: mp_inflation