The Bank of Russia’s monetary policy is aimed at maintaining price stability in the Russian economy. Keeping inflation sustainably low is of paramount importance to public welfare, favourable business environment, higher accessibility of long-term financial resources and confidence in the national currency. Setting a quantitative inflation target near 4% and inflation steadily anchored at a sustainably low level significantly raise the certainty of economic conditions for all economic agents and ease financial and investment planning, as well as decision-making on saving and borrowings. In the Monetary Policy Guidelines for 2020-2022, the Bank of Russia’s strategic document, the regulator explains goals, key principles and approached towards the conduct of monetary policy, and presents medium-term macroeconomic forecast scenarios.