We publish the main directions of monetary policy for the years 2027-2029 in this strategic document, we explain approaches to managing monetary policy, and also present base scenarios and alternative forecasts for the next 3 years. Previously, the draft document was approved by the Government of the Russian Federation, sent to the President of Russia and discussed in working meetings with State Duma deputies. The final document takes into account the decision on the key rate and medium-term base forecast of the Bank of Russia, adopted by the Governing Council on October 23, as well as statistical and other data from October 20, 2026. Read the main changes compared to the draft published on September 30 on our website.

We publish the main directions of monetary policy for the years 2027-2029 in this strategic document, we explain approaches to managing monetary policy, and also present base scenarios and alternative forecasts for the next 3 years. Previously, the draft document was approved by the Government of the Russian Federation, sent to the President of Russia and discussed in working meetings with State Duma deputies. The final document takes into account the decision on the key rate and medium-term base forecast of the Bank of Russia, adopted by the Governing Council on October 23, as well as statistical and other data from October 20, 2026. Read the main changes compared to the draft published on September 30 on our website.