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RUSSIA’S ECONOMIC OUTLOOK AND MONETARY POLICY JUNE 2019 2 Consumer prices Annual inflation 14 slowdown is continuing. In May, CPI declined to 12 5.

of Russia on 1 April 2019. decrease) Source: Monetary policy report №1 (March 2019) 15 Monetary policy decision on 26 April 2019 Inflation and inflation

for the monetary policy decision-making process. Inflation targeting A monetary policy strategy governed by the following principles: the main objective of monetary policy is price

ECB monetary policy Our assumptions for US federal funds rate forecast* Eurozone policy rate forecast* 4,0 0,5 the Fed and ECB policy updated

Bank of Russia establishes information disclosure requirements for the sale of life insurance policies 26 March 2019 News Share VKontakte WhatsApp Telegram As of 1

RUSSIAN ECONOMIC OUTLOOK AND MONETARY POLICY 4% RUSSIA’S ECONOMIC OUTLOOK AND MONETARY POLICY February 2019 RUSSIAN ECONOMIC OUTLOOK AND MONETARY POLICY 2 Consumer prices

Bank of Russia to change price policy in the domestic precious metal market 11 February 2019 Press release Share VKontakte WhatsApp Telegram This year the

POLICY REPORT Moscow DEAR READERS, In order to improve the effectiveness of the Bank of Russia’s information policy with regard to its monetary policy

Calendar of key monetary policy events for 2019 updated 28 December 2018 Press release Share VKontakte WhatsApp Telegram The Bank of Russia has updated the

RUSSIAN ECONOMIC OUTLOOK AND MONETARY POLICY 4% RUSSIA’S ECONOMIC OUTLOOK AND MONETARY POLICY December 2018 RUSSIAN ECONOMIC OUTLOOK AND MONETARY POLICY 2 Consumer prices