Monetary Policy: Global Trends and the Development of Bank of Russia’s Approaches

The chapter discusses current global trends in monetary policy, including the expansion of the inflation targeting regime and a loose monetary policy amidst the COVID-19 pandemic. Mostly, it focuses on the experience of Russia, as well as that of other Eurasian Economic Union (EEU) member countries, in the context of forming a single monetary policy. Based on the results of this article the author argues that it is possible to form a single monetary policy within the EEU in the long term, provided that a number of the following conditions are met: introducing a single medium-term target for inflation, implementing a single exchange rate policy and coordinating the monetary policy of the EEU countries at the supranational level.