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inflation shock persistence 0.3 : standard deviation of foreign inflation shock 1.7 : foreign inflation trend shock persistence 0.8 : standard deviation of foreign inflation

to 2022 are presented in Appendix 1. Among the key topics are inflation, inflation expectations, the state of the economy (GDP), monetary conditions and financial

achieving the inflation target to limit potential risks to the real sector under tight monetary conditions. With improving inflation forecasts and stabilising inflation expectations, the

low- inflation" regime with anchored inflation expectations. Finally, to anchor inflation expectations, it is also possible to lower the target. The current target inflation rate

the current period, is QoQ inflation in the period, is QoQ annualised inflation in the period, and is the inflation target. However, the volatility of

inflation. At the same time, the observed inflation indicator takes shape under the influence of news about the past trends of individual prices, while inflation

Research and Analytical Notes Monetary Policy Review - 2023 Work stream 1. Inflation target format Title Authors Publication Type Publication date Inflation Target Format Meshcheryakov, A.

inflation was marked by the following: - a smaller input of inflation expectations into inflation changes, and a larger contribution of inertia. Put it differently, inflation

of the FEMR such as output and inflation. By comparing the contribution of shocks to output and inflation in 2016–2022, we show that oil

still markedly above the inflation target. The observed decline in inflationary pressures has yet to become sustainable. Households’ and businesses’ inflation expectations remain high. The