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1051
06.02.2024
become sustainable.
Households’ and businesses’ inflation expectations remain high. The tight monetary policy of the Bank of Russia will help reduce inflation going forward.
The
exchange rate, inflation targeting policy, accelerated
development of import-substituting agricultural production and the Russian government
employment of a more active trade policy in agriculture and
1053
06.02.2024
exchange rate, inflation targeting policy, accelerated development of import-substituting agricultural production and the Russian government employment of a more active trade policy in agriculture and
and 2022 Q4 following the ruble depreciation in summer and the monetary policy tightening.
In 2023 overall, the value of goods imports recovered to the
Russia takes the collected data into consideration when making
decisions on monetary policy to analyse and forecast inflation, identify the key
trends in economic development
s forecast, tight monetary policy will limit the excessive expansion
of domestic demand and its proinflationary effects. Given the current monetary policy stance,
annual inflation
1057
30.01.2024
the studies and public consultations on the Bank of Russia’s Monetary Policy Review. The aim is to explain the rationale behind the Bank of
in previous years.
MONETARY POLICY TRANSMISSION
The monetary policy transmission mechanism (welfare channel), and the ruble exchange rate
(or monetary policy transmission) is a sequence
1059
22.01.2024
high.
According to the Bank of Russia’s forecast, given the monetary policy stance, annual inflation will decline to 4.0–4.5% in 2024
in any publications as the Bank of Russia’s official position, official
policy, or decisions. Any errors in this document are the responsibility of the