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operational objective of the Bank of Russia’s monetary policy within the inflation targeting strategy is to maintain rates in the unsecured overnight segment of

2021 2022 Expected inflation 20 Observed inflation 10 Annual inflation 0 2016 2017 2018 2019 2020 2021 2022 Lower bound of inflation for 10% of

dynamics as well as the noticeable decline in inflation expectations of households and businesses. In April annual inflation reached 17.8%, however, based on the

sustainable inflation deceleration towards the target as part of inflation targeting policy, which has already proved effective in the Russian environment. 1.1. Annual inflation

for Undergraduate&Graduate Students and PhD Fellows-2019 @Title 6 July 2018 / online Inflation: New Insights for Central Banks @Title 20 November 2017 / online Macroeconomic Models

for obligations of other issuers of the Russian Federation, credit achieving the inflation target. The key rate is set by the Bank institutions’ promissory notes,

about the principles of income and expense management, signs of fraudulent schemes, inflation and setting of financial goals. The top 10 topics also included insurance,

for obligations of other issuers of the Russian Federation, credit achieving the inflation target. The key rate is set by the Bank institutions’ promissory notes,

monthly price growth (to 1.5%). Its level remained high causing annual inflation to continue rising (up to 17.8%) in April. The monetary policy

a meaningful factor shaping the path of inflation and inflation expectations. The movements of the economy and inflation will also depend on future fiscal policy