The Bank of Russia has published its draft Monetary Policy Guidelines for 2025–2027, outlining the goals and principles of its monetary policy. The document presents a baseline scenario along with three alternative economic development scenarios: disinflationary, proinflationary, and risk.
Regardless of the scenario, the primary aim of the monetary policy will be to return inflation to 4%. To achieve this target, the Bank of Russia will implement appropriate measures based on the economic situation, inflation trends, and financial market conditions.
The draft also includes appendices and boxes addressing topics such as subsidized lending, regional inflation in Russia, reasons for deviations from the inflation target, among others.