The state Duma will consider the main directions of the DCT in 2017-2019

Госдума рассмотрит основные направления ДКП на 2017-2019 годы

The state Duma on Friday will consider guidelines for the single state monetary policy in 2017 and 2018 and 2019.

The document will present to deputies the head of the Central Bank Elvira Nabiullina. Moreover, in the plenary by the Chairman of the accounts Chamber Tatyana Golikova.

The main directions provide that, in the medium term, as in the current year, the Bank of Russia will act in the framework of the strategy of inflation targeting policy and floating exchange rate of the ruble. The target inflation target to 4% is expected to be achieved by the end of 2017.

Thus the document stresses that the actions of the Bank of Russia will focus on maintaining domestic economic stability, primarily for the deceleration of inflation and maintaining it at about 4%, and to stimulate household savings, to protect them from inflationary depreciation and the creation of conditions for transformation of savings into investments, which is an important component of the new model of economic growth.

The main directions of the Bank of Russia presented three scenarios of macroeconomic development of Russia for the next three years, depending on oil prices and other internal and external factors. The baseline scenario that the Central Bank considers most probable, based on assumptions that significant changes in world commodity markets does not happen and the price of Urals crude oil in the next three years will be about $ 40 per barrel. This script in its basic parameters are close to the base forecast of Ministry of economic development.

Two alternative scenarios assume, respectively, slower and faster recovery in global growth, which will lead to the formation of a lower or higher trajectory in oil prices. In the first of them laid down the decline in oil prices to $ 25 per barrel in early 2017 and its preservation near this level until the end of 2019, the second — a gradual increase in the price of oil to $ 55 a barrel in 2019.

Source