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both inflation and any implicit neutral rate. Given high inflation despite weak growth, the Fed is likely to prioritize inflation control. To bring inflation down

into consideration when making decisions on monetary policy to analyse and forecast inflation and identify key trends in the economic development across Russia in general

To bring inflation back to the target, the Bank of Russia tightened its monetary policy. The measures taken helped the regulator considerably reduce inflation by

the possibility of lowering the inflation target in the future. The Bank of Russia will consider this move once inflation slows down and stabilises close

To bring inflation back to the target, the Bank of Russia tightened its monetary policy. The measures taken helped the regulator considerably reduce inflation by

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.

a Monetary Policy Instrument.......................................................... 13 Inflation Target Format........................................................................................................ 16 Inflation target level.....................................................................................................................................................................16 Inflation target type....................................................................................................................................................................19 Indicator employed for inflation targeting.......................................................................................................................20 Description of

of monetary policy implementation, evaluate the outcomes achieved during the period of inflation targeting, and determine how well these outcomes align with the primary statutory

expected to send year-end inflation slightly above the 4% target. It is essential to stress that the slower pace of inflation is no happy accident.

the inflation targeting regime, keeping the monetary policy objective unchanged, i.e. to maintain annual inflation close to 4%.2 Low and stable inflation makes