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Russia's broad monetary base down 4% in October - Central Bank

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MOSCOW, November 13 (RIA Novosti) - Russia's broad monetary base stood at 4,405 billion rubles (about $179 billion) in October 2007, down 4% on September, the Central Bank of Russia said on Tuesday.

At the same time, Russia's broad monetary base increased 6.9%, year-on-year, in January-October 2007, the CBR said.

According to Central Bank terminology, broad money supply consists of cash in circulation, credit institutions' correspondent accounts with the CBR, required reserves, bank deposits in the CBR and the bank's bonds held by credit institutions, as well as the Central Bank's obligations to buy back securities and required reserves on foreign exchange operations deposited with the Central Bank.

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