since the beginning of the year, by 0.5 p.p. to 5.5% per annum. This decision was caused by an accelerated inflation … expectations. As seen by the results of May 2021, inflation in annual terms reached 6% and, according to our estimates, its year …

annum. It has reached its maximum value since 2017. This is due to the acceleration of inflation on the back of the … expansion of demand in the face of continuing problems with goods and services supply. By the end of November 2021, inflation in … annual terms came to 8.4% and approached record values over the past 5 years. Given the inertia of inflation, it will remain …

highest value since May 2017. The decision was adopted in response to the ongoing inflation acceleration that resulted from an …, which points to the high probability of a continuing monetary tightening cycle. Annual inflation in January skyrocketed to 8 ….7%, which is its record high since February 2016. Given the inertia in the movement of annual inflation, it will remain above …

-on-year inflation amounted to 6.7%, close to the 5-year heights. In our opinion, in 2021 the inflation rate is going to be equal to over …

the Bank of Russia acts as if it had two conflicting targets: inflation stabilization and low real exchange rate, or … for forecasting the medium run dynamics of inflation and nominal exchange rate. It is also shown that commonly used … quadratic loss function that models inflation and real sector stabilization is not relevant in depicting the Bank’s behavior. …