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of the Monetary Policy Department, the Research and Forecasting Department, and other Bank of Russia Departments and Main Branches. The Monetary Policy Department together with

of Russia Monetary Policy Bank of Russia Statistical Bulletin No. 12 (391) 65 2. THE BANK OF RUSSIA BALANCE SHEET. MONETARY POLICY INSTRUMENTS Table 2.

of Boston Public Policy Brief, (10-2). Gagnon, J., Sarsenbayev, M. (2022). 25 years of excess unemployment in advanced economies: Lessons for monetary policy. Peterson Institute

The model includes some key features such as price rigidity, fiscal policy, and monetary policy rule. Few modifications of the model are considered. The original

No. 12 (108), December 2025 MONETARY POLICY AND INFLATION EXPECTATIONS Inflation expectations of economic agents influence how effectively monetary policy will be able to control

operations (also the balance) can be find at Banking Sector Liquidity, Monetary Policy Instruments and Other Operations of the Bank of Russia. billions of rubles

detailed analysis of the factors influencing the Bank of Russia’s monetary policy decisions. Using detailed statistical reporting data, the digest contains the analysis of

for the financial market participants as well as for monetary and prudential policies. Keywords: Corporate credit, credit line utilisation, credit registry, micro-level data, bank lending,

for the financial market participants as well as for monetary and prudential policies. Full text of the research Department responsible for publication: Research and Forecasting

Russia takes the collected data into consideration when making decisions on monetary policy to analyse and forecast inflation, identify the key trends in economic development