In parallel, it will continue to regularly reassess the need for an adjustment of the CCyB. Page 3/3
Review of monetary policy Winding up, I would like to remind you that the Bank of Russia has announced its plans to review its monetary policy over the period since the switch to the inflation targeting regime. Within this review, the Bank of Russia will analyse the actual results achieved, the changes in the economic environment over this period, and long-term trends that might impact the implementation of monetary policy in the future. The results of this work and the findings relevant for the parameters and practice of the Bank of Russia’s policy will be presented by the middle of next year and will be taken into consideration in the course of the elaboration of the Guidelines for 2023. Conclusion Recently, Russia’s economy has demonstrated multiple times its ability to adjust to the changing environment. Regardless of how the situation unfolds, we will do our best to create necessary conditions to further develop the country’s economy and enhance its resilience. Monetary policy aimed at ensuring price stability and enabling a countercyclical response to changes in the economy is an essential condition for sustainable and well-balanced economic growth. Thank you for attention. I am ready to answer your questions. 4/4  BIS central bankers' speeches