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estimates, monetary policy decisions gradually translate into the CPI within 3–6 quar- ters. Therefore, a significant part of the effect from monetary policy tightening

of Russia Monetary Policy Bank of Russia Statistical Bulletin No. 11 (390) 65 2. THE BANK OF RUSSIA BALANCE SHEET. MONETARY POLICY INSTRUMENTS Table 2.

The National Financial Board (NFB) held a meeting to review the Monetary Policy Guidelines for 2026–2028, the information from the Bank of Russia Board

2013 32.20 39.20 11.09.2013 32.25 39.25 30.09.2013 32.30 39.30 The Bank of Russia FX Policy

current day’s morning. Banking Sector Liquidity, Monetary Policy Instruments and Other Operations of the Bank of Russia Department responsible for publication: Monetary Policy Department

BoR Bond Operations Main purpose of the instrument Bond placement by central banks is a common practice in international monetary policy. Such transactions are most

these goods remained above 4%. The Bank of Russia will maintain monetary policy tight enough to return inflation to the target of close to 4

Survey calendar in 2026 Monetary policy meetings Questionnaire collection windows Survey release dates January February March Mon Tue Wed Thu Fri Sat Sun Mon Tue

No. 11 (107) November 2025 Monetary policy and inflation expectations Inflation expectations of economic agents influence how effectively monetary policy will be able to control