Economic research is integral to various areas of the Bank of Russia’s operations. Analytical findings are critical to the formulation and conduct of monetary policy, to decisions on financial stability policy and to banking supervision, as well as to the development of financial markets and the payment system. Applied research findings are used for internal discussions and may be represented in the regular publications of the Bank of Russia. Focused on the highest global standards, the Bank of Russia’s economic research relies on advanced methods, maximally complete available data and the rich source of global academic expertise.