Russia M2 Money Supply Grows 1.2% in August, Annual Growth Slows to 12.9%

Russia's M2 money supply rose 1.2% in August to 137.3 trillion rubles, accelerating from July's 0.6% increase, but annual growth slowed to 12.9% from prior levels. The slowdown in annual growth suggests monetary tightening is gradually curbing liquidity expansion, though monthly acceleration indicates persistent inflationary pressure. This matters for ruble stability and the CBR's rate path.