In the Monetary Policy Guidelines, the Bank of Russia each year describes the goals of monetary policy and approaches to its implementation and provides its view of the current situation in the economy and forecasts of its development in the medium term. The Bank of Russia implements its monetary policy taking into account its core function stipulated by the Constitution of the Russian Federation, which is protecting the ruble and ensuring its strength. In accordance with Federal Law No. 86-FZ, dated 10 July 2002, ‘On the Central Bank of the Russian Federation (Bank of Russia)’, this function shall be performed by maintaining price stability, that is, steadily low inflation. Securing price stability, the Bank of Russia creates an essential condition to foster sustainable development of the domestic economy.