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BANK OF RUSSIA MONETARY POLICY BANK OF RUSSIA №6 2. MAIN INDICATORS AND INSTRUMENTS OF THE BANK OF RUSSIA MONETARY POLICY (301) STATISTICAL 69 BULLETIN

over the forecast horizon remains virtually unchanged. Further clarification of data will not call for any adjustment of the monetary policy. Preview photo: Pincasso / shutterstock

market and the uncertainty over fiscal policy dimensions over the next few years. The Bank of Russia’s policy fosters reduced inflation risks and the

Staff announcements 21 June 2018 Press release Share VKontakte WhatsApp Telegram The Bank of Russia informs that Monetary Policy Department Director Igor Dmitriev has decided

Andrey Andreev Bank of Russia, Monetary Policy Department E-mail: AndreevAV@cbr.ru Evgenia Shatilo Bank of Russia, Monetary Policy Department E-mail: ShatiloEU@cbr.ru Authors

of financial resources to the economy. Let me begin with our monetary policy stance. It is a fact that over the last few years the

key target of our interest rate policy. We also think that overall macroeconomic policy — including monetary and fiscal policy — has so far brought no stronger

monetary policy needs to be slower. Keeping somewhat tight monetary conditions allows to limit the scale of secondary effects arising from the tax policy decisions

key target of our interest rate policy. We also think that overall macroeconomic policy – including monetary and fiscal policy – has so far brought no stronger

almost 25% of all premiums. Life insurance with the participation of the policy holder in the investment income of the insurer is among the leaders