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The Central Bank of Russia believes the 10% inflation rate target for 2005 can be hit
The Central Bank of Russia believes the 10% inflation rate target for 2005 can be hit, First Chairman Alexei Ulyukayev said Wednesday. He said inflation for the first eight months of 2005 had reached 8.3% and forecast that it would stand at 8.3%-8.4% for the first nine months. Ulyukayev also said the ruble had appreciated in real terms by 8.2%-8.4% in the first nine months of 2005, and forecast it would reach 9%-9.5% in 2005 as a whole.
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