MOSCOW, November 22 (RIA Novosti) - Russia's monetary base will grow 16-24% and money supply will expand 19-29% in 2007, the head of the Central Bank of Russia said Wednesday.
Sergei Ignatyev said the indices were not tightly preset and could change depending on the macroeconomic situation.
Ignatyev also said the growth of money supply will total 29% in the first 10 months of the year.
"According to preliminary data, money supply, namely the M2 aggregate, grew 29%," Sergei Ignatyev said.
Money supply grew 21.8% in the same period of 2005, Ignatyev said.
Russia's M2 is defined by the CBR as total cash in circulation outside of banks, plus ruble funds on accounts of resident non-financial organizations and individuals.
