Economic growth in the first half of 2019 is lower than the
Bank of Russia's expectations.
Moscow: The National Financial Board held a meeting to review the Monetary Policy Guidelines for 2019-2021, as well as information from the
Bank of Russia's Board of Directors on key issues of the
Bank of Russia's operation in the third quarter of 2018.
The increase in the key rate will help prevent firm inflation anchoring at the level significantly exceeding the
Bank of Russia's target.
The programme is aimed at increasing the
Bank of Russia's ability to maintain the stability of the banking system.
The due diligence check of credit risk at the
Bank of Russia's request established a substantial loss of capital and entailed the need for action to prevent the credit institution's insolvency (bankruptcy), which created a real threat to its creditors' interests.
It is published in line with the
Bank of Russia's ongoing efforts to roll out a data management system at the Bank of Russia; furthermore, its publication will improve Bank of Russia interaction with reporting organisations.
The
Bank of Russia's approaches to its monetary policy will remain unchanged in the context of the implementation of the 'fiscal rule'.
Moving forward, the
Bank of Russia's key rate decisions will be based on its assessment of the balance of risks of inflation's material and sustainable deviation in either direction from the target, as well as the dynamics of economic activity against the forecast.
Moscow: The National Financial Board (NFB) meeting reviewed the Monetary Policy Guidelines for 2018-2020, as well as information from the
Bank of Russia's Board of Directors on key issues of the
Bank of Russia's operation in the third quarter of 2017.
The transition to the international business reporting standard XBRL is one of the
Bank of Russia's high-level projects.
