OREANDA-NEWS. The Bank of Russia Board of Directors approved the draft Monetary Policy Guidelines for 2017-2019.

The document specifies the role of monetary policy in creating the background for balanced economic development, outlines its goals and principles and describes the implementation of the monetary policy under the unfavourable conditions of the second half of 2015 and of 2016, as well as further measures taken by the Bank of Russia with the account of scenario economic development forecast.

The Guidelines point out that the Bank of Russia seeks to ensure price and financial stability, as they are important conditions for sustainable economic growth and social well-being.

According to the document, the Bank of Russia measures first of all aim at slowing down inflation and keeping it close to 4%, and also stimulating households’ savings and protecting them against the inflationary depreciation, and setting conditions for savings to transform into investment.

In the coming days the Bank of Russia will present the draft Monetary Policy Guidelines for 2017-2019 to the President and the Government of the Russian Federation, then submit it for consideration to the State Duma of the Federal Assembly of the Russian Federation.