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MIL OSI Translation. Region: Russian Federation –

Source: Central Bank of Russia – Central Bank of Russia –

The Bank of Russia will update the set of materials that are released after meetings of the Board of Directors on the key rate, and will begin to publish the Summary of the discussion of the key rate (Summary). This decision was made taking into account the results of research and public consultations onReview of the monetary policy of the Bank of Russia. Its goal is to reveal in more detail the logic of decision-making on the key rate and increase the transparency of the monetary policy of the Bank of Russia.

Starting February 2024:

on the sixth working day after each decision on the key rate, the Bank of Russia will publish a Summary. It will reflect the discussion of the decision on the key rate during the “week of silence” and at the meeting of the Board of Directors of the Bank of Russia. The summary will contain the positions of the discussion participants on the situation in the economy and the prospects for its development, alternative solutions with arguments for and against, and justification for the decision made. Positions will be presented without highlighting the opinions of individual discussion participants; The Bank of Russia will change the format press release on the key rate. It will become more concise, since detailed information about the main factors that influenced the decision on the key rate will be disclosed in the Summary. The press release will continue to be published at 13:30 Moscow time on the day the key rate decision is made. During the pivotal rounds, simultaneously with the press release, the Bank of Russia will publish a medium-term macroeconomic forecast. The format and time of the press conference of the Chairman of the Bank of Russia will not change: it will be held at 15:00 Moscow time on the day the decision on the key rate is made; in the pivotal rounds, simultaneously with the Summary, the Bank of Russia will publish a Commentary on the medium-term macroeconomic forecast; the updated set of materials will cover all the material information previously contained inMonetary Policy Report, therefore its publication will be discontinued.

These changes are reflected inKey rate decision calendar.

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Note; This information is raw content directly from the source of the information. This is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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