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BANK OF RUSSIA MONETARY POLICY BANK OF RUSSIA №3 2. MAIN INDICATORS AND INSTRUMENTS OF THE BANK OF RUSSIA MONETARY POLICY (298) STATISTICAL 69 BULLETIN

the country’s mac- getary revenues over its expenditures. roeconomic policies, namely: foreign trade policy, Indicators in this table are calculated on a monthly foreign

stance stimulus and a substantial rise in government of the Fed monetary policy. Besides, the debt levels and inflation. financial markets were also affected by

Credit financing of these industries was mainly provided through the financial repression policy, under which the Chinese government regulates the spread between credit and deposit

yet to fully respond to recent monetary policy decisions. This factor and a complete transition to neutral monetary policy, alongside the dying-out of temporary tailwinds,

participants view ruble softening risks amid the normalisation of Fed’s monetary policy as well as risks of tightening sanctions against Russian sovereign debt as

main areas of megaregulator's activity, its responsibilities with regard to monetary policy and removing unfair players from the financial market, about the importance of

inflation, the ECB eased its USA UK Germany Canada Japan Australia monetary policy by cutting the key rate from 0.5% to 0.25%. Standard

oil prices. the growing discontent of the population over the EU migration policy and toughening banking USA and Canada sector regulation. The concern over the

patient” about the timing of dollar, as % of start of period monetary policy tightening. 105 In March 2015, the Fed modified its language by abandoning