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UPDATE: Russian Central Bank aims to hit inflation target

MOSCOW, September 13 (RIA Novosti) - The Central Bank of Russia is aiming to keep the 2005 inflation rate within the forecasted 10%, the bank's first deputy chairman said Tuesday.

Alexei Ulyukayev said, "We will keep to the 10% [target] given good conditions."

He said it had seemed impossible in May that the target would be hit, as inflation was increasing faster than it had done in 2004.

However, the June-August 2005 inflation rate was lower than it had been in the previous year.

Ulyukayev said inflation would be 8.3% on October 1, as was the case in 2004.

He also said increases in state-regulated tariffs had to be regulated to ensure the 10% target was hit.

The increase in the real effective exchange rate of the ruble will be within 9-10% in 2005, Ulyukayev added.

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