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divisions of the Bank of Russia regional branches jointly with the Monetary Policy Department. This issue was compiled by the North-Western Main Branch of the

of Russia Monetary Policy Bank of Russia Statistical Bulletin No. 5 (384) 51 2. THE BANK OF RUSSIA BALANCE SHEET. MONETARY POLICY INSTRUMENTS Table 2.

The consumer loan portfolio continued to contract amid tight monetary and macroprudential policies (-1.4%), predominantly in the segment of cash loans. Therefore, the 2025

were still tight. More details are available in the information and analytical commentary Monetary Conditions and Monetary Policy Transmission Mechanism. Preview photo: Gorodenkoff / Shutterstock / Fotodom

by the Russian assets’ attractiveness to households and businesses amid tight monetary policy. The US dollar decreased by 3.6% MoM and the yuan – by

ruble is affected by tight monetary policy in place. Following a sharp slowdown of consumer lending amid tight monetary policy, there has been a softening

certain level. Our tight monetary policy is intended to slow inflation, and it also affects the ruble exchange rate. The policy we intend to pursue

FOR THE INSURANCE POLICY ............................................................... 2 TO USE THE COOLING-OFF PERIOD AND GET A REFUND FOR THE POLICY ..................... 3 TO DIVIDE THE POLICY PRICE INTO 12

position of the Bank of Russia or an indication of its official policy or decisions. Any errors in this work are solely those of the

fiscal policy. Its normalisation in 2025 will have a disinflationary effect. Changes in the fiscal policy parameters may require an adjustment in the monetary policy