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a further escalation of inflation and long-term interest rates. The rates will decline following the decrease in the key rate and inflation slowdown. Moreover, the

Considering the monetary policy pursued, inflation is expected to slow down steadily in 2023. This will create conditions for returning inflation to 4% in the

Bank of Russia discusses anti-crisis measures with business associations 20 April 2022 News Share VKontakte WhatsApp Telegram A gradual decline in inflation will help businesses

for individual products. Hence, inflation will exceed the target. Therefore, it is essential to comprehend that such a rise in inflation above the target will

reaching 21.8%. Beginning from the end of October 2021, amid higher inflation and geopolitical risks and, accordingly, uncertainty about further changes in interest rates,

create new jobs, and increase domestic investment. Financial stability and predictable dropping inflation are the key prerequisites for this, and the Bank of Russia will

measures. There is a steady inflow of funds to fixed-term deposits. Annual inflation will continue to rise due to the base effect. Yet, the latest

Real Output Inflation Interest rate rate wages 2. Exchange rate – Interest rate – Output– Inflation – Real wages. 3. Interest rate – Exchange rate – Output – Inflation – Real wages.

studies, the macroeconomic variables are explicitly set in a regression equation (GDP, inflation, unemployment, etc.), while our study treats the macroeconomic environment with time fixed

regulation were introduced. Mr Ignatiev paved the way for the transition to inflation targeting. He had to go through two large-scale crises — the 2004 banking