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the monetary policy. Monetary policy benchmarks. The interest channel of the transmission mechanism of the monetary policy Building an efficient system of monetary policy tools

current monetary policy stance. It should contribute to restraining money market rates volatility and strengthening of the interest rate channel of the monetary policy transmission

package of regulations was adopted, motivated by the government’s financial inclusion policy: from now on any financial institution was permitted to engage agents. The

in order to increase its transparency and market participants’ awareness about monetary policy operational procedure. The forecast will be published each Tuesday together with the

used for elaborating the country’s macroeconomic policies, international requirements, an analytical presentation makes it namely, foreign trade policy, foreign exchange regulation and possible to

2012 hike in the interest rates on the Bank of Russia monetary policy instruments could contribute to the moderation of inflation expectations. At the same

the first year of cooperation, the parties agreed to focus on monetary policy, financial stability and banking supervision. The cooperation was launched on 25 October

II.1. Monetary policy ........................................................................................... 64 II.1.1. Monetary policy objectives and results ..................................................... 64 II.1.2. Monetary indicators and monetary policy instruments ................................ 70 II.

used for elaborating the country’s macroeconomic policies, international requirements, an analytical presentation makes it namely, foreign trade policy, foreign exchange regulation and possible to

of the monetary conditions tightening for the Russian economy. In making monetary policy decisions the Bank of Russia will be guided by medium-term inflation goals