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Monetary Policy 2. The Bank of Russia Balance Sheet. 2. The Bank of Russia Balance Sheet. Instruments of the Bank of Russia Monetary Policy Bank

to expect a faster easing of the Bank of Russia’s monetary policy following the slowdown in inflation and statements by Bank of Russia representatives.

svc_analysis@cbr.ru. This commentary has been prepared by the Monetary Policy Department. Photo on the cover: Shutterstock.com. 12 Neglinnaya Street, 107016 Moscow

to expect a faster easing of the Bank of Russia’s monetary policy following the slowdown in inflation and statement by Bank of Russia representatives.

institutions. The document was developed as part of perfecting approaches to macroprudential policy and published for consultations with market participants. The report describes indicators that

activity, explains the rationale behind Econs.online: “To be successful, central banks’ policies should be research-informed. At the same time, central banks’ work often provides

share of persons who have never taken out loans is 1 Monetary Policy Report, No. 1 (25), March 2019, p. 43. Inflation expectations and consumer

Index. For more details see: www.markiteconomics.com / public. 4 See Monetary Policy Report, No. 1 (25), March 2019 (hereinafter, MPR 1/19). Source: Rosstat.

and this is reflected in the path of our monetary policy and the monetary policy of the world’s leading central banks. We do not

month-on-month) (per cent change, month-on-month) This commentary is prepared by the Monetary Policy Department. Cover photo: Shutterstock.com. © Central Bank of the Russian Federation 2019