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SHEET. Instruments of the Bank of Russia Monetary Policy 2. The Bank of Russia Balance Sheet. MONETARY POLICY INSTRUMENTS Table 2.1 The Bank of

lending slowed down. More details are available in the information and analytical commentary Monetary Conditions and Monetary Policy Transmission Mechanism. Preview photo: Raland / Shutterstock / Fotodom

the same month-on-month. MONETARY POLICY TRANSMISSION The monetary policy transmission mechanism that of banks – to expand lending (credit and (or monetary policy transmission) is a

at how these developments have shaped the response of monetary policy, and whether other policies have been put in place that supported the task of

No. 12 (84) December 2023 Monetary policy and inflation expectations Inflation expectations of economic agents influence how effectively monetary policy will be able to control

raising their policy rates in order to mitigate inflationary risks. A number of EMEs (Brazil, Peru, Chile, and Poland) switched to decreasing their policy rates

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

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

to the upper bound of 7.0–7.5%. Given the monetary policy pursued, annual inflation will decline to 4.0–4.5% in 2024

divisions of the Bank of Russia regional branches jointly with the Monetary Policy Department. This issue was compiled by the Far Eastern Main Branch of