Inflation targeting involves the use of communication as a crucial monetary policy instrument. Communication helps the central bank reduce inflation expectations and anchor them at a low level as the central bank seeks to boost trust in its policy and ensure the predictability of interest rates in the economy. The Bank of Russia has expended much effort to develop its communication policy, aiming to ensure that its disclosures are complete and timely. These efforts have been intended to bolster the role of communication as a monetary policy tool.