The Central Bank of Russia reported that broad money growth was unchanged from June on a monthly basis in July, while annual M2X growth slowed to 12.6%. Credit to the economy increased from the previous month and its annual growth rate continued to accelerate. Credit remained the main source of money supply growth. Fiscal operations continued to make a positive but smaller contribution.
2026-08-25Central Bank of Russia
Central Bank of Russia reports slower annual broad money growth at 12.6% as credit expands
The Central Bank of Russia reported that annual M2X growth slowed to 12.6% in July, while monthly growth was unchanged from June. Credit growth accelerated and remained the main source of money supply, as the positive contribution from fiscal operations declined.