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and Mishkin, F. S. (1997). Inflation targeting: A new framework for monetary policy? Journal of Economic Perspectives, 11(2):97–116. https://www.aeaweb.org

the redirection of supplies and a number of Russia’s foreign trade policies. To increase supplies to external markets, the Government of the Russian Federation

December 2012 More +Hide - Background The Bank of Russia’s financial stability policy aims to ensure that the level of risks accepted by the financial

volatility this year is at its lowest since 2022. First, tight monetary policy is working to ensure ruble investments remain attractive. Second, we are seeing

Head of the Analytical Department, CJSC VTB Capital. 2018–2020: Director, Monetary Policy Department, Bank of Russia. Since June 2020: Deputy Governor of the Bank

President, JSC Odissei. 1994–2001: Head of Office, Committee on Budget, Tax Policy, Financial, Foreign Currency and Customs Regulation and Banking, the Federation Council of

policy; elaboration of and methodological support for the complex of monetary policy instruments; implementing the operational procedure of the Bank of Russia’s monetary policy;

target • According to the Bank of Russia’s forecast, given the monetary policy stance, annual inflation will decline to 4.0–5.0% in 2026

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

with the regulator on topical issues relating to the economic situation, monetary policy, and the advancement of the financial market and financial technologies, which makes